Answer:
(Ethical Dilemma)
The American car battery industry
a) I will establish contact with battery recyclers in the U.S. to work out a good arrangement with them to collect the old batteries periodically. Some favorable terms with the recyclers will rake in some revenue on disposal. Alternatively, I will search for resellers who export to some recyclers in Mexico or other countries, which operate with reasonable ethical environmental standards and get them to buy the old batteries. I am aware that not all the recyclers in Mexico will be following less demanding standards. My shop can work through such recyclers.
b) As a manager of a large retailer with responsibility for the disposal of thousands of used batteries each day, I will seek to understand that correct environmental standards are being followed by the buyers of used batteries in the US, Mexico, or elsewhere before selling to them. Non-compliance with ethical and environmental requirements do not just jeopardize the health of those directly involved, the health of many others are also in danger. I cannot only be interested in selling off used batteries, I will ensure that the environmental footprint is not too high, because I, my family, and my business live and operate in the environment. We must conserve a clean environment for the continued health of all.
Explanation:
Ethical environmental matters affect every living person. The future is put in danger if nothing is done rightly today.
Answer:
The demand curve would be a downward straight line graph.
Explanation:
This type of curve is referred to as inelastic demand curve because the decrease in price would not result to an increase in quantity purchased as explained by the question. Majority of the reservation, precisely 25 people from the question are willing to pay reservation proce of 500 as compared to one person whose reservation is different.
Answer:
Since the opening price is set so low, potential buyers will think that their total consumer surplus is very large. For example a consumer may be willing to pay $40 for an iPod but since the price is $1 his total consumer surplus is $39, so he will tempted to offer higher bids which eventually lead to a higher final price.
Answer:
option D "The demand is unitary elastic."
Explanation:
Data provided:
At price, P1 = 3,000 units
Demand, D1 = $ 50
also,
at price P2 = $ 60
Demand, D2 = 2,500 units
Now,
the percentage change in price = 
or
the percentage change in price = 20%
and,
The percentage change in the quantity = 
or
The percentage change in the quantity = -20%
The elasticity in demand (Ed) is given as:
Ed = (Percentage change in quantity) / (Percentage change in price)
on substituting the values, we get
Ed = (-20%) / 20%
or
Ed = - 1
Here the negative sign depicts the inverse relation between the price and the demand.
hence, the correct answer is option D "The demand is unitary elastic."
Answer:
Laffer curve.
Explanation:
Laffer Curve is developed by
Arthur Laffer. It is used to show the relationship between tax rates and the amount of tax revenue collected by governments of a particular country. Laffer curve is used to demonstrate Laffer’s argument that sometimes cutting tax rates can increase total tax revenue.
Laffer curve shows the relationship that occurs between the tax rate and the amount of tax revenue collected
The relationship between the tax rate and the amount of tax revenue collected is called the LAFFER CURVE curve. This curve shows that TAX CUT CAN INCREASE TAX REVENUE.
The drawing of a laffer curve has been attached
