When Workers Go on Strike, Management Is Often Compelled to Keep

question 142

Multiple Choice

When workers go on strike, management is often compelled to keep the business operation running. If it is unable to achieve this on its own, management may

• A) elect to proceed with a lockout.
• B) close down the facility and permanently fire the strikers.
• C) hire strikebreakers.
• D) picket.

---

Definitions:

Table: Price Elasticity

A tabulated representation that shows how the quantity demanded of a good or service responds to changes in its price, indicating the sensitivity of consumers to price changes.

Midpoint Formula

A method used in economics and mathematics to calculate the average of two points on a line, often employed to find the elasticity of demand.

Chocolate-Covered Peanuts

Peanuts that have been coated in chocolate, serving as a sweet and crunchy snack.

Total Revenue

The total value of sales of a good or service (the price of the good or service multiplied by the quantity sold).