If the Cross Price Elasticity of Demand for Fries with Respect

question 238

Multiple Choice

If the cross price elasticity of demand for fries with respect to hamburgers equals -1.2, then:

• A)​a 1% increase in the quantity of hamburgers purchased will lead to a 1.2% increase in the price of fries.
• B)​a 10% increase in the price of a hamburger will lead to a 12% increase in the quantity of fries demanded at a given price.
• C)​a 1% decrease in the price of a hamburger will lead to a 1.2% increase in the quantity of fries demanded at a given price.
• D)​a 10% increase in the quantity of hamburgers purchased will lead to a 12% increase in the price of fries.

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Definitions:

Employee Cloning

refers to the practice of hiring individuals who closely resemble the company's existing employees in terms of skills, attitudes, or demographic characteristics, often criticized for limiting diversity.

Internal Sources

Internal Sources refer to the methods or strategies within an organization used to fulfill its needs, including hiring, funding, or gathering information.

Recruitment Package

A collection of benefits, including salary, perks, and other incentives, offered to potential employees as a part of the hiring process.

Retention

The action of keeping something or someone, often referring to the strategies used by businesses to keep employees from leaving the company.