Which of the Following Would NOT Make Elasticity of Demand

question 94

Multiple Choice

Which of the following would NOT make elasticity of demand for a good more elastic?

• A) more substitutes
• B) luxuries
• C) large part of budget
• D) less time

Understand the concept of economizing scale in franchising and its sources.

Recognize the ethical and legal standards governing franchised businesses.

Identify the potential negative impacts on a franchisee's business due to the performance of other franchisees.

Understand the franchise agreement terms and clauses, including renewal and termination rights.

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Definitions:

Direct Labor Hours

The total number of work hours spent by employees who directly manufacture or produce goods.

Predetermined Overhead Rate

An estimate used to allocate overhead costs to products or job orders, calculated before the costs are incurred.

Finished Goods

Items that are finished with the production phase but are still awaiting sale or delivery to consumers.

Cost of Goods Sold

The direct costs attributable to the production of goods sold by a company, including materials and labor costs.