Answer:
A. Conventional.
Explanation:
Conventional arbitration is the methodology where both the parties (employers and unions) set forward their ideas before the arbitrator. The arbitrator dissects the offers and arrives at a resolution. Under conventional arbitration, it is required for the two parties to acknowledge the arrangement gave by the arbitrator.
Answer:
Boxes of staples (maximum) that can be purchased by available income are 5.
Maximum boxes of paper clips that can be purchased by available income are 10.
Explanation:
Budget Line is the graphical representation of product combinations, that consumer can purchase with prices & income (spending all income).
It is downward sloping - as given same income & price levels, one good's consumption can be increased by reducing consumption of other good.
The intercept of downward sloping budget line is the maximum amount of that axis good which that consumer can consume with given income, price.
That maximum amount of purchasable good is Income/price of that good. Eg: Income = 100, Price of Good 1 on X axis = 10, Price of Good 2 on Y axis = 5. So :
- Maximum amount of good 1 purchasable = 100/10 = 10. It is on X axis, x axis intercept is (10,0) ; and
- Maximum amount of good 2 purchasable = 100/5 = 20. It is on Y axis, y axis intercept is (0,5)
Good 1 & Good 2 are analogous to Staples & Paper Clips respectively.
Answer:
The demand for candy bars is inelastic
Explanation:
The midpoint rule calculate the price elasticity of demand as percentage change in quantity divided by the percentage change in price:
<u>% change in quantity </u>
The quantity demanded increased from 500 to 600. We have
<u>% change in price</u>
The price changed from 1 dollar to 0.8 dollars.
Price elasticity if demand is
The negative sign tells us that there is an inverse relationship between price and quantity demanded.
Since 0.82 is less than 1, the demand for candy bars is inelastic
It is a product design manager
