Answer:
TR decreases if Demand is Elastic, TR increases if Demand is Inelastic
Explanation:
Price Elasticity of Demand is the responsive change in price, due to change in price. Elastic demand means demand responds more to price change, Inelastic demand means demand responds less to price change. Total Revenue is the total receipt value from sales = Price x Quantity
- If demand is elastic : price & total revenue are inversely related - price increase, demand decrease & price decrease, demand increase.
- If demand is inelastic : price & total revenue are directly related - price increase, demand increase & price decrease, demand increase
So, If a company increases its sale price per unit of a product :
- Total Revenue would increase as a result of price rise, if demand is Inelastic
- Total Revenue would decrease as a result of price rise, if demand is Elastic
Good judgement is important in making decisions when budgeting because they can allow one to predict fairly accurately what the costs will be of a particular project based on one's own experience and of the current prices of supplies and say drilling charge rates and also with an adequate allowance for contingency.
Smaller companies is more likely to centralize functions in staff organizations that support all business areas or product lines. Smaller companies often centralize staff functions to support all business units.
Change occurs more informally through social networks is is true about organizational change, so option (d) is correct.
In terms of organisational change, which of the following is accurate?
Change agents perform best when they take the initiative in isolation.
b. The success of organisational change in the public sector is most heavily influenced by groups of people who are committed to the change to varying degrees.
b. The executive team constitutes the only guiding coalitions for organisational change.
d. Social networks facilitate change in a more casual manner.
e. Organizations should avoid adopting viral change,
One who is alone is said to be in isolation or seclusion. One's customary friends may be cut off from them by choice or circumstance, or isolation may refer to a state of being apart from all other people. A few peaceful hours of seclusion and isolation highlight the tendency to unintentionally distance oneself from others.
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