Answer:
D. a 10 percent decrease in the average price of a lift ticket.
Explanation:
When Price elasticity is greater than 1, that suggests that the demand for that particular good or service is highly responsive to price or is price-sensitive . Furthermore, If price elasticity is greater than 1 then an increase in price will cause revenue to decrease.
Applying the above-stated principle to the given scenario, it has been stated that 'The estimated price elasticity of demand is 1.5.' implying that the demand for downhill ski is highly sensitive and responsive to changes in price.
Therefore, the only logical economic strategy to improve revenues will be to decrease price so that revenue can increase.
Answer:
Obtain a deficiency judgment against Drew for the amount owed.
Explanation:
Even though Hale repossessed the computer, it must still seek a deficiency judgment against Drew in order to recover the money owed. If Drew cannot pay his debt, he has the right to request Hale to sell the computer in order for Hale to recover the money owed.
Repossession is one way that a lender can use to reclaim property that was put as collateral for a loan. For example, if you do not pay your car loan, the lender can simply repossess your car by taking it away without a court order. But the debtor still had the right to try to reclaim the property by paying the debt or agreeing on some type of payment procedure.
<span>Business schools generally train students to follow rational decision-making models.
These types of schools want their students to implement the knowledge they got from their studies into their everyday working lives in the future where they will have to be rational when making certain decisions in the workplace. </span>
Answer: Uncertainty
Explanation: In simple words, uncertainty refers to a situation under which an individual or an entity is not sure about their belief or decision regarding a particular subject matter.
In the given case, the employees of the store are unknown to the reality of how the new manager will be.
Hence from the above we can conclude that the above case demonstrates uncertainty.
