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Elasticity is how sensitive supply or demand are to a change in price. A product is elastic if the price change causes a big change in quantity demanded. A product is inelastic is the price change causes a small change in the amount demanded. There are three questions you can ask to determine the elasticity of a product. Can the purchase be delayed? Are adequate substitutes available? Does the purchase use a large portion of income? Can the purchase be delayed? If the consumer’s need for the…

so long that they do not want to switch over to the light emitting diode(LED) because the LED has a bigger initial cost. LED’s in the long term, save more money than the normal light bulb. Normal incandescent light bulbs use 60 watts of energy while the LED only uses six to eight. That is over seven times more efficient than the normal light bulb. On top of LED not using as much watt 's, they 80% more efficient the standard lights. If the whole nation were to switch over to LED’s, there would be…

As a foodservice director of a medium sized health care facility, looking to switch over from currently using locally owned food service distributor to a national distributor you would need to look at the advantages and disadvantages of both. There are many things to consider as you are making your choice. Some items to consider include food quality, price, convenience, and customer appeal. As you are making your decision you should also consider where your facility is financially and what type…

with the ignition switch existed for 11 years at GM (Kuppler, 2014). Once the CEO became aware of the problem the leadership style started to shift to a Participative style whereas guidance was being offered to the employees and the leadership team allowed employees to provide input as well. Some…

loose if you dropped the remote recently. Even if the remote has good batteries, something else could be wrong with the device that caused it to malfunction. The first step is to bypass the remote and see if your garage door operates with the indoor switch. If it does, you know the problem is in the remote. If it doesn't, the problem could be in the spring or electrical components of the opener, which means you may need to call in a professional. The Electronic Eye If the door won't stay down…

its in-store Black Friday 2015 sales at 6am on Black Friday. Now, GameStop has followed with its own announcement: GameStop stores will be closed on Thanksgiv-ing Day and will open at 5am on Black Friday. Reasons for the Switch GameStop has said that they made the time switch because the company wants to protect family time for customers and employees on Thanksgiving Day. In previous years, as Black Friday store openings slowly crept into Thanksgiving Day, shoppers have complained about the…

The calculation would confirm the engineer 's choice to move the switch to the right as that course of events clearly equates to less suffering, and therefore more good. A deontological analysis leaves more room for debate. On one hand, the duty not to kill would argue that the engineer not switch the train to the right, as that option would kill the woman on the tracks. However, by not switching the train, the engineer would also…

environmental injustice. The injustice spanned 50 years before it was actually addressed. Several industrial plants dumped millions of waste over the years and the water was never treated properly. The city officials were aware of the issue and still voted to switch the water supply to Flint River. What makes this a sad case is that people died from drinking the water and some still may have problems in the years to follow. One good outcome is that several people were finally held accountable…

Minimum wage is a relatively new concept in the labour market. It was created with the idea that minimum wage will be a stepping stone into a better paying job in mind. As the years have gone by, minimum wage jobs have evolved from supporting teenagers and giving them the necessary experience in the work field to supporting families. It’s this change in dynamics that fuels the argument that minimum wage should increase to a living wage. What people fail to realize is that minimum wage exists for…

are two goats and the car. After you choose a door, the host opens one door revealing a goat because he already knows behind which door the car is hidden. You are faced with the choice of deciding whether to stay with your original decision or to switch your choice to the remaining closed door. Most people will decide it makes no difference to swap doors since there is a 50/50 chance of winning the car. The answer is that you should always swap because it gives you twice the chance of…