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lakkis [162]
3 years ago
13

A decrease in supply will cause the smallest increase in price when

Business
1 answer:
andre [41]3 years ago
6 0

Answer:

Both supply and demand are elastic.

Explanation:

Demand or supply elasticity is defined as elasticity or responsiveness with more than one numerical value, which indicates their high response to the change in price.  

Elastic demand: It is the percentage change in quantity demanded due to the change in price in absolute value of the product.

The elasticity of supply: It is defined as the response of the quantity of a good supplied to a change in the price of the good. Likely to be positive in output.

FORMULA; Elasticity of supply= (\%\ change\ in\ quantity\ supplied) / (\%\ change\ in\ price)

Due to the decrease in the supply of goods in the market, it leads to the scarcity of goods, therefore there is an increase in the price of goods.

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Kia, a top-level manager in a software firm, is allocating the company's resources to meet the organization's long-term goals. S
lana66690 [7]

Answer:

C. Strategic plan

Explanation:

Strategic planning involves developing a business strategy, method of implementing the business strategy and finally evaluating the business strategy in order to see if it has achieve its goal. It is characterized by strategy formulation, implementation and evaluation. In this case, Kia is contributing to the strategic plan by allocating company's resources to meet the long term goals of the company and defining long term activities, that is, developing a business strategy.

3 0
3 years ago
Land of Many Lakes (LML) sells butter to a broker in Albert Lea, Minnesota. Because the market for butter is generally considere
Mice21 [21]

Answer:

A. can choose the quantity of butter that it produces but not the price at which it sells its butter.

Explanation:

Taking into consideration the characteristic of the market explained in the exercise we would say that it is a Competitive Market.

One of the characteristics of a Perfect Competitive Market is that the price of the products is determined by the market, which means that no single seller can't change or influence the price on its own.

Hope it helps. Good luck.

3 0
2 years ago
Victoria's Closet, a manufacturer of bohemian-style clothing and accessories, sells its products through its online Web site, a
Rom4ik [11]

Answer:

Multichannel distribution system.

Explanation:

Multichannel distribution system is a method or structure in which a single company sets up two or more sales and marketing channels to reach one or more customer segments

3 0
3 years ago
Logistics systems should be designed to achieve customer service goals while maintaining lowest possible financial investment in
shepuryov [24]

Logistics system should be designed to achieve customer service goals while maintaining lowest possible financial investment in inventory.

The main purpose of logistics system is to increase the experience of the customer  and to improve profits of the organization. Reducing the cost of inventory may add to the profits of the company.

Managing the inventory is an instinct part of the smooth running of businesses. Recognizing which and how much stock has to be ordered, is useful to continue the inventory levels and content the customers. Timely delivery of the product adds to the customer satisfaction.

To learn more about inventory here

brainly.com/question/15118949

#SPJ4

8 0
1 year ago
A map made to show the distribution of one or more phenomenon is a(n) ________ map.
Vaselesa [24]
<span>A map made to show the distribution of one or more phenomenon is a THEMATIC map. A thematic map emphasizes a distinct characteristic over the map, showing which regions are more susceptible to it.</span>
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2 years ago
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