The Most Important Determinant of Price Elasticity of Supply Is

question 382

Multiple Choice

The most important determinant of price elasticity of supply is

• A) the number of close substitutes there are for the good.
• B) the time period firms have to adjust to the new price.
• C) the price of the good.
• D) the importance of the good in the budgets of consumers.

Calculate training program utility and interpret its implications for decision making.

Comprehend the various cost components involved in a training program and their impact on ROI calculations.

Understand the concept and application of cost-effectiveness in training programs.

Recognize the importance of linking training and development to return on investment (ROI) from the perspective of CEOs.

---

Definitions:

Grievance Filing Rates

The frequency at which employees file formal complaints (grievances) against their employers, usually related to contract or work condition violations.

Past Practice

A term used in labor relations to refer to a customary practice that, over time, has become an accepted way of doing things despite not being formally written into a contract.

Arbitrators

Neutral third parties chosen to settle disputes outside of court, whose decisions are typically binding.

Arbitration Case

A legal dispute that is resolved outside of court by an arbitrator, whose decision is typically binding on both parties.