Answer:
0.5
Explanation:
A screenshot is attached to get the full solution
Since the coefficient is < 1, it is inelastic
Answer:
The correct option is: attempted to decrease the failure rate of small businesses by protecting them from the competition of large and growing chain stores
Explanation:
The Robinson-Patman Act. was an amendment to Clayton aniti-trust Act,it was enacted to address the issue of price discrimination.
The Act provided that businesses should charge the same prices to consumers not minding who the buyers are,hence the practice of higher bargaining power of large retail stores using their buying strength to buy in large quantity at lower price was nipped in the bud.
Previously,these large retail stores were able to buy at cheaper prices compared to smallholder retailers and were able to sell at cheaper prices too,thereby driving the retailers out of business.
Answer:
TRUE
Explanation:
You need to know something about the hierarchy and culture of the company in order to understand how a specific business firm uses information systems because generally, information flows upwards in an organisation via the hierarchical structure.
The flow of Information passes through each level of the hierarchy to the top. Then follows the assessment of such received information, and dependent on the outcome of the information assessment, a decision is made.
Also, just like information flows upwards through the hierarchy, so also does decision flow up via the hierarchical structure to the bottom or the point where the decision is to be implemented.
Hence, it is true that you need the knowledge of an organisation's hierarchy in order to understand the flow of information.
