Answer:
Income elasticity of demand = - 0.56
Explanation:
Given,
P=10, Pc=100, Pd=2, A=5, and I=50.
So,
Q=200-5(10)-.1(100)-.5(2)+.2(5)-(50).
Q=90 (level of income)
Computation:
Given , I = 50, Q = 90.
ΔQ / ΔI = -1
Income elasticity of demand = (ΔQ / ΔI) x (I / Q)
Income elasticity of demand = - 1 x (50 / 90)
Income elasticity of demand = - 0.56
Oscars opportunity cost for buying the business is 50,000
Answer:
Technological lockout
Explanation:
Technological lockout is the position when the company is unable to gain benefit of its innovation this is because of the defect in its innovation offerings. This is the main reason why Samsung was defeated by Iphone in previous years because the samsung galaxy series phone was geting hot and blasts when the charger pin was pinned in. As a result, Samsung users opted to Iphone due to its better reliabilty and customer focused strategy. This technological lockouts are more prominent when the company is in haste and doesnot considers any testings necessary which costs them a loss of potential customers.
Theory X would obstruct the company's employees' ability to advance and be productive. Because they are more concerned with making sure their work is done correctly than with developing their staff and learning about potential new prospects, managers who anticipate and micromanage daily activities do not aid in their development.
They are limiting potential sources of income in the near future by doing this, and even if these new alternatives could cause merchants more issues, if they carry on as they have, they will fail nonetheless, so it is worthwhile to explore new options. If they encounter these kinds of difficulties, they will also be unable to be innovative with future endeavors since, as the adage goes, it takes money to create money.
Retailers must, however, offer shoppers something novel if they want to overcome these worries.
To know more about Theory X
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