Which of the Following Is Likely to Have the Most

question 34

Multiple Choice

Which of the following is likely to have the most price elastic demand?

• A)fountain ink pens
• B)milk
• C)disposable diapers
• D)shampoo

Recognize the various sources and methods of employee recruitment, including their advantages and disadvantages.

Identify the components and significance of a job description and job specification.

Understand the legal and ethical considerations in hiring, including anti-discrimination laws.

Recognize the importance of training and its role in improving employee performance and motivation.

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Definitions:

Technology

Refers to the application of scientific knowledge for practical purposes, especially in industry.

Short-run Average Cost

The total cost divided by the quantity of output produced, in the short term when at least one input is fixed.

Long-run Average Cost

The per-unit cost of production in the long term, where all inputs can be varied and economies of scale can be achieved.

Substitution

Substitution refers to the economic principle where users replace one good or service with another in response to changes in price, technology, or consumer preferences.