In your opinion, do we need to use a structured decision making model to make decisions in business.

Business

1 answer:

dolphi86 [110]3 years ago

5 0

Answer:

Decision-making models can help you create successful solutions even with limitations like short time or little information. It's useful to understand the details of various decision-making models when trying to choose the best one for your team and situation.So,we need to use a structured decision making model to make decisions in business.

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Answer:

The answer is A

Explanation:

Companies should produce what customers want based on the marketing concept. Companies and customers are dependent on each other. Companies should focus on producing goods which consumers/customers want. These companies should think of what consumers want and the prices they would pay since it is the consumer that creates demand for goods and services that are produced by the company.

Therefore companies should produce only what consumers want else they would produce goods and services with little demand.

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If your seller cost is $8.00 and the price ceiling is $7.00, you will:

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<span>If your seller cost is $8.00 and the price ceiling is $7.00, you will: </span>Be unable to sell a book for a profit

Seller Cost refers to the total expense that you have to pay until the product is distributed, while price ceiling is the maximum price imposed by the Government for the product.
The only way for you to obtain profit in this situation is if you could reduce the total operational expense.

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3 years ago

The basic formula for the price elasticity of demand coefficient is.

Kitty [74]

Percentage change in quantity demanded/percentage change in price is the basic formula for the price elasticity of demand coefficient.

<h3 /><h3>What is price elasticity?</h3>

Price elasticity is the degree of an individual that person or a consumer can pay to the change in the price of the commodity, it is calculated the price a consumer is willing to pay versus the amount of quantity supplied to the person.

Thus, Percentage change in quantity demanded/percentage change in price

For more details about Price elasticity, click here:

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maybe use gloves

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