Packaging and labeling, in addition to benefiting the final consumers, also provides a <u>competitive advantage</u> for the firm.
<h3>What are packaging and labeling?</h3>
Packaging and labeling are the processes of designing and developing suitable packages for the enclosure of products and providing some instructions and suggestions for product usage.
While packaging focuses on the product's appearance, labeling is mainly concerned with the product's description.
Thus, packaging and labeling, in addition to benefiting the final consumers, also provides a <u>competitive advantage</u> for the firm.
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Answer:
The price of tee-time should be reduced by 6.67%.
Explanation:
The price elasticity of demand for tee times is –1.5.
The manager wants to increase the number of tee times sold by 10%.
The price elasticity of demand shows the change in quantity demanded due to a change in the price level. It is the ratio of the percentage change in quantity demanded and percentage change in price.
Price elasticity =
- 1.5 =

Artists often use WATERCOLORS to create small and intimate works because the paints are easy to carry and only requires a glass of water. Watercolor is made up of pigment in a vehicle of water and gum Arabic, which is a sticky plant substance that acts as the binder. The most common support for watercolor is paper. Watercolors could readily be taken on outdoor sketching expeditions and are particularly preferred by amateur artists.<span />
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Explanation: