Answer:
Intensive.
Explanation:
In this scenario, Mike is driving over to his girlfriend's apartment and decides to buy some gum. He could stop in a gas station, go to any grocery store, go to any discount store, or even buy some out of a vending machine. The reason Mike has so many options to buy gum is because chewing gum companies strive for intensive channel coverage.
An intensive channel coverage is a sales method which is typically focused on providing varieties of sales outlets or channels for customers to buy their desired products.
Companies operating under the intensive channel coverage, are usually aimed at saturating the market with their products, by using all available sales outlets.
<em>Hence, Mike had so many outlets where he could buy gum from because chewing gum companies strive for intensive channel coverage in order to reach out to potential customers. Other examples of companies that use the intensive coverage channel are cigarette, beer etc. </em>
The ratio of the percentage
change in the quantity demanded of a good to a percentage change in its price
refers to the price elasticity of demand.
<span>To add, price elasticity of demand (PED or Ed) is a measure used
in economics to show the responsiveness, or elasticity, of the quantity
demanded of a good or service to a change in its price, ceteris paribus.</span>
If there is no unity in a shared system, then diversity can become chaos.
Answer:
0.038 units per $ of factor costs
Explanation:
Labor cost for 40 units = 30 hours × $10/hour = $300
Cost of paper for 40 units = 15 sheets × $50/sheet = $750
Output = 40 units
Multi factor productivity is expressed as;
Multi factor productivity = Output/Total Factor cost
Multi factor productivity = 40 units/$1050 = 0.038 units per $ of factor cost
Multi factor productivity is a measure that depicts units produced for every $ of factor products used. In the above case 2 factors i.e labor and paper are used.
