Answer: d. a decrease in the quantity demanded of 30%
Explanation:
Price elasticity of a good is used to measure the magnitude of change in the quantity demanded of the good as a result of a change in price.
Price elasticity = Change in Quantity demanded / Change in Price
2 = Change in quantity demanded / 15%
Change in Quantity demanded = 2 * 15% = 30%
The elasticity is listed as positive but is supposed to be negative even though this can cause confusion. Normal goods are assumed to have a negative elasticity so unless stated otherwise, assume elasticity is negative.
This is why the change is a decrease in quantity demanded.
Answer:
b) Managerial hubris
Explanation:
Based on the scenario being described within the question it can be said that the term that is often used to describe this would be Managerial hubris. This term refers to the unrealistic belief by managers that believe that they can manage a target firm's assets better than that firm's current management. Which is what is happening in this scenario since the managers at Winter Wonder believe that they can do a better job at managing the Sleds by Bob business better that their current managers.
Answer:
The answer is C) Differing frames of reference, for the first part.
B) Be more aware of your frame of reference, is the answer to the second part.
Explanation:
Frame of reference simply means that it is a judgement you make based on your perceptions, understandings and opinions. Frame of reference is highly subjective and depends on each individual.
In this scenario, from Supervisor's point of view, the drive was a "Short" drive. But for you, the drive was "Super long".
By being aware of how the other person refer to certain matters and having a general idea about his/her frame of reference will solve this problem in the future.
A pay raise, a million dollars, and a partner.
Examples of some of the most prominent hard currencies are listed below: The U.S. dollar (USD) The euro (EUR) ... The Australian dollar (AUD)
