Answer:
C. A decrease in the quantity demanded
Explanation:
Price Elasiticity
The law of demand and supply would usually hold that an increase in prices will result in a decrease in demand. Furthermore, an increase in demand generates a corresponding increasing in supply as well.
<u>When the demand of a product is sensitive to the changes in price, then we say that price of the product is elastic</u> but if the product demand not strongly influenced by price then we say that the pricing is inelastic.
In the case of the lettuce, we can say that the price is elastic, because there is a sensitive reaction between an increase in price from $1 to $2 which immediately leads to a halfing of the quantity demanded. The price is elastic such that an increase in price leads to a decrease in quantity demanded.
Answer:
Total quality management.
Explanation:
Since Rhea's company sets specific goals for product features and reliability, offers incentives for achieving goals, and regularly solicits employee feedback on the causes of customer issues. These activities are part of a total quality management system.
A total quality management (TQM) can be defined as a management tool used to attain customer's satisfaction and improved productivity leading to long-term success in the business. The starting point or first step of the total quality management (TQM) is customer focus.
<em>Hence, in order to achieve a long-term success in customer satisfaction, organizations should use the total quality management approach by involving all of its employees with high standards and work ethics</em>.
Answer:
C) allows existing customers to upgrade to a newer model by trading in their older model.
D) though it previously offered free delivery, now charges for deliveries made outside the city.
Explanation:
If ABC company wants to change low profit customers into more profitable customers, they need to:
- encourage low profit clients to buy larger quantities by offering promotions (e.g. get a discount if you buy a bike, helmet and other gear all together)
- forgo certain services or features to low profit customers, e.g. free delivery only for expensive bikes
- increase the price of your product for low profit customers (e.g. charge a delivery cost for cheap bikes)
- offer upgrading options to low profit clients
Answer:
Code of ethics
Explanation:
Code of ethics is described as the set of the principles which are followed or conduct within the business or organization, it helps in guiding the behavior as well as help in decision making.
The motive of the code id to provide the members and the other parties who are interested with the guidelines form taking an ethical choices while conducting or performing the work.
In short, it is a written as well as formal statement of the ethical standards as well as values, which the guide the actions of the firm.
Answer:
He a celebrity. One of his biggest songs are Baby, Love yourself, what do you mean, sorry .
