Answer:
1) It is a price floor which is binding as employeer cannot hire teenagers willing to work below 24 dollars per hour
2) it is a price celling and is biding as the current equilibrium price is 3.00 There will be shortage as demand will icnrease for the lower price but supply decrease as it is not as profitable
3) it is a price floor which is also binding as the equilibrium is at 3 dollars the supplier will have to increase price and sales volume will be lower as demand will drop
Explanation:
Answer:
The answer is true
Explanation:
One of the most common trade barriers is a tariff. Tariff is a tax imposed by the government on imported goods and services. Imposing tariffs on imported goods and services raise their prices.
Imposing tariff on imported goods can either be done to raise government revenue or to protect indigenous companies.
According to Mendenhall and Oddou <u>self-orientation</u> predicts success in a foreign posting strengthens an expatriate's self-esteem, self-confidence, and mental well-being.
<u>Option: D</u>
<u>Explanation:</u>
Mendenhall and Oddou belief that self-orientation is beneficial to have assumption regarding success in foreign posting capacities by showcasing sufficient amount of self-confidence and mental stability.
Self-orientation allow the representative to arrange the strategy or upcoming conversation in mind according to on going scenario, this is only possible when one is having a stable self-oriented brain rather then doubtful, full of questions, nervous mode or any unimpressive act.
Here, they have correlated self-orientation with positive side of business inspite of being only self concern and not considering other factors.
Answer:
Increase price.
Explanation:
Price elasticity is the degree of responsiveness of quantity demanded to changes in price. Ideally as price increases quantity demanded reduces. When prices reduce quantity demanded increases.
As a new manager of Rock Record company, if the economics consultants inform you the price elasticity is less than one it means quantity does not change with increase in price.
So price can be increased without a corresponding decrease in price. The goal of higher revenue can be achieved by increasing the product price.
