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OLEGan [10]
1 year ago
14

The reason the substitution effect works to encourage a consumer to buy less of a product when its price increases is:

Business
1 answer:
ikadub [295]1 year ago
8 0

Answer:

The correct answer is the option C: the product is now relatively more expensive than it was before.

Explanation:

To begin with, the <em>substitution effect</em> is the term that, in economics, refers to the situation where a products or services increase or decrease its value in comparison with other and therefore it causes a substitution from the consumer regarding that change in the price.

Secondly, in the case where a product increases its price the substitution effect will cause that the consumer decides to purchase other products due to the fact that the first product is now relatively more expensive than it was before and therefore a substitution of the good takes place.

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Rebecca is the office manager for a medium-sized production company. She writes to her boss asking if one of the office assistan
Alenkasestr [34]

Answer:

Common-ground persuasion technique

Explanation:

A common-ground persuasion technique is a technique aimed at improving interpersonal relationships. Like the word, common ground means establishing agreement on certain ideas or points in other to ensure that relationships between individuals are stable and problem free.

In the case of Rebecca, she has used the common-ground persuasion technique to ensure that her boss accepts her suggestion that one of the office assistants take on the responsibility of completing the sales report. By carefully outlining more disadvantages of her taking up the responsibility, her boss will most likely agree to her suggestion.

Cheers.

8 0
1 year ago
As companies shift from a product-centric focus to a customer-centric focus, a myth that almost all current customers are profit
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Answer:

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5 0
2 years ago
Which of the following best describes costs assigned to the product under the variable costing method? Direct labor (DL) Direct
masya89 [10]

Answer:

DL, DM, and VOH.

Explanation:

Under the variable costing method, direct labor cost, direct material cost and variable manufacturing overhead cost are cost assigned to the product. administrative, fixed manufacturing overhead cost are not variable cost and hence cannot be assigned to a product under variable costing method. Variable costing methods considers only manufacturing costs that change in total with changes in production level.

3 0
1 year ago
A robot manufacturing company in Southeast Asia undertakes a government project to produce multi-utility robots. It requires a s
eimsori [14]

Answer: a. Computer-aided manufacturing

Explanation: A computer-aided manufacturing would help the robot manufacturing company in this regard since it can provide the required software to control the machine tools and processes needed in the manufacture of the multi-utility robots.

Computer-aided manufacturing (CAM) is defined as the use of software and computer-controlled machinery to automate a manufacturing process and is composed entirely of software that tells a machine how to make a product through the generation of toolpaths; a machinery that can turn raw material into a finished product and a post processing unit that converts toolpaths into machine languages. Computer-aided manufacturing thus provides high–speed machine tool paths that greatly minimize cycle times, reduce tool and machine wear and general improvement in quality and accuracy of cutting.

7 0
1 year ago
Read 2 more answers
Kate is a florist. Kate can arrange 20 bouquets per day. She is considering hiring her husband william to work for her. Together
Grace [21]

Answer:

Marginal product is the addition to the number of goods produced when 1 worker is added to the workforce. In this case one worker will be added to the workforce if William is hired. When will is hired the bouquets per day increase from 20 to 35. This means that the addition to the number of bouquets is 15(35-20). So When William is hired the number of goods increase by 15 which means William's Marginal product is 15.

Explanation:

4 0
1 year ago
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