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Consider the following statements: a.Consumers rent more kayaks from a vendor that rents kayaks at a lower price than other rival kayak vendors along Waikiki beach.
B.Department stores take steps to increase security since they believe it is more costly to allow shoplifting than to install expensive security monitoring equipment.
C.Farmers produce more cotton when its selling price falls.
Which of the above statements demonstrates that economic agents respond to incentives?
Commission
A fee paid to an agent or employee for transacting a piece of business or performing a service, often a percentage of the sale price.
Sales Neutral
refers to a situation where the number of units sold does not significantly impact the financial metrics or strategy of a business.
Compensation
Payment or benefits provided to an employee or worker as remuneration for their services or work performed.
Aggressively
Acting with force or assertiveness to achieve an objective or goal, often without much regard for others.
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