Answer:
c. Critical Path Analysis
Explanation:
Quality management is a set of established business processes that ensure business actions comply with established quality standards. This is reflected in quality of products, the relationship between the entity and all stakeholders.
The tools of quality management are some statistical tools used to check the variability if any of actual output quality from set quality standard with view to effecting necessary control. There are basically 7 tools of quality management which are Scatter Diagram, Control Charts
, Flow-charting
, Histogram
, Pareto chart, Check Sheets, Cause-and-effect diagram
Answer:
The correct answer is a).
Explanation:
The income elasticity of demand refers to the percentual variation of quantity demanded of a certaing good in response to a percentual variation in income.
If the income elasticity of demand for medical care is 1.35,
<em>a. if income decreases by 1%, the quantity demanded for medical care decreases by 1.35%.</em> TRUE, this is what the definition implies.
<em>b. if the price of medical care increases by 1%, the quantity demanded for medical care decreases by 1.35%. </em>FALSE. In this elasticity, the sign is relevant. This income elasticity implies that changes in income and medical care expenses have the same sign.
<em>c. if the income of the average consumer increases by 1 dollar, the quantity demanded for medical care will increase by 1.35 units of care.</em> FALSE. The elasticity relates percentual variations, not absolute value variations.
<em>d. if income increases by 1%, the quantity demanded for medical care decreases by 1.35%.</em> FALSE. The same as point b.
Answer:
$3
$2
$1
False
Explanation:
The burden of tax refers to who pays the tax between the buyer and the seller.
More burden of tax usually falls to the party with the more inelastic demand because the quantity demanded would not change despite the increase in price as a result of the tax.
To find the amount of tax per bottle = price of wine - amount received by producers = $6 - $3 = $3
The amount paid by consumers = price after tax - price before tax = $6 - $4 = $2
Amount received by sellers = tax- amount paid by consumers = $3 - $2 = $1
It can be seen that consumers bear a higher burden of tax because they pay the greater tax. This means they have an inelastic demand.
If the tax had been levied on producers, the effect on quantity demanded would have been greater because producers have a more less elastic supply when compared to consumers .
I hope my answer helps you
Answer:
B
Explanation:
Since demand increased more people want it, which would make it more logical to increase the price
