Plan carefully, communicate transparently, address challenges, and prioritize employee support to lead a successful Reduction In Force (RIF) project.
How to lead a Reduction In Force (RIF) project effectively?Creating a comprehensive plan for a Reduction In Force (RIF) project requires careful consideration of several key steps and potential challenges. The following is an in-depth outline of the steps involved, challenges that may arise, and strategies to overcome them:
1. Assess the current situation: Conduct a thorough analysis of the organization's financial health, performance metrics, and workforce requirements to determine the need for a RIF and identify the target reduction percentage.
2. Legal and ethical considerations: Consult with legal counsel to ensure compliance with employment laws, regulations, and contractual obligations. Develop a communication strategy to handle the sensitive nature of the RIF while prioritizing transparency and empathy.
3. Workforce planning: Evaluate each department's staffing needs, considering critical roles and skill requirements. Identify positions that can be eliminated, outsourced, or consolidated to achieve the desired workforce reduction.
4. Communication and employee support: Develop a communication plan to provide timely and clear information to affected employees. Establish channels for employees to ask questions, express concerns, and receive support throughout the process. Offer outplacement services, career counseling, and assistance in finding new employment opportunities.
5. Talent retention and redeployment: Explore alternative options, such as retraining or redeploying employees to other roles within the organization. This approach can help retain valuable talent while minimizing the impact of the RIF.
6. Implementation: Execute the RIF plan in a phased approach, prioritizing fair and objective criteria for selecting employees for separation. Ensure compliance with relevant policies and procedures, including proper documentation and severance package calculations.
7. Post-RIF assessment: Evaluate the impact of the RIF on organizational performance, employee morale, and customer satisfaction. Identify lessons learned and areas for improvement to inform future workforce planning and change management initiatives.
Challenges that may arise during the RIF project include:
a. Employee morale and engagement: The RIF can have a significant impact on the morale and engagement of remaining employees. To address this, provide ongoing communication, support, and opportunities for open dialogue.
b. Legal and regulatory complexities: Employment laws and regulations can vary, making it essential to work closely with legal counsel to ensure compliance throughout the process.
c. Retaining key talent: The RIF may result in the loss of critical skills and knowledge. Implement strategies to retain key talent through redeployment, retraining, or incentivized retention programs.
d. Maintaining productivity: The RIF can disrupt workflow and affect productivity. Mitigate this challenge by carefully managing the transition, ensuring clear communication, and providing necessary resources and support to remaining employees.
To overcome these challenges:
- Prioritize transparent and empathetic communication to build trust and address employee concerns.
- Offer comprehensive support services, such as outplacement assistance, to help affected employees transition to new employment.
- Engage leadership and managers in supporting employees through the RIF process.
- Regularly assess the impact of the RIF and adjust strategies as needed to mitigate potential negative effects.
By following these steps and addressing the challenges proactively, organizations can navigate a RIF project while minimizing negative impacts and supporting both the affected employees and the remaining workforce.
Learn more about Reduction In Force
brainly.com/question/30924018
#SPJ11
Having just graduated with a degree in business, Brianna looks over several offers she has received from companies interested in her talents. She is specifically interested in the wage setup each company is offering. One wants her to manage a small store; this would be a salaried position. Another would have her working in a sales office on commission. The third is a spot in a paper company as an hourly sales manager. Brianna has been offered a chance to do per-project work for a retail company, but she would be an independent contractor. Compare and contrast these
Answer:She's just getting started financially and decides not to join her field's major professional association because she thinks it's not worth the annual fee.
Explanation:There u GO!!<3:)
In the following situation, imagine you are a waiter at a restaurant. See if you can put this list of tasks in
order of importance, starting with the most important task, and ending with the least.
Clear a table
Answer a customer's question
Bring out an order of food
Take someone's order
Fold napkins
Answer:
1. Answer a customer's question
2.Take someone's order
3.Bring out an order of food
4 Cleae a table
5.Fold napkins
The list of tasks in order of importance is
1. Answer a customer's question
2. Take someone's order
3. Bring out an order of food
4 Clear a table
5. Fold napkins
What is a Customer?A customer is referred to as an individual who purchases a product or service. He may or may not be the consumer. A consumer refers to a person who utilizes or consume goods and service.
In any service or product-based industry, it is important to treat customers as a primary function. If the customer is not satisfied with the service they will move in search of a new restaurant.
Once the customer's question is asked, the waiter can move to the next table in order to take the order as making the customer wait for the services is not considered good.
After that order, the food can deliver along with routine work like clearing the table or folding the napkin. It states that the satisfaction of customers is key to the success of the business.
Learn more about customer satisfaction, here:
https://brainly.com/question/28387894
#SPJ2
Workplace diversity describes differences among workers in any of the following areas:
attitude
education
ethnicity
industry
Answer:
industry because here based the all the business in whole world
After a couple orally agrees to purchase an appliance at a special price, the salesman tells them he misquoted the price, indicating it was only available for an out-of-stock model with fewer options. The couple then agrees to purchase the appliance at a higher price. It appears that the salesman has effectively used the _____ technique.
Answer:
low-ball technique
Explanation:
Low-ball technique is a method used to persuade buyers make a purchase by offering a product at low price to get the customer to commit. The price is then increased.
This is a method commonly used by sales people.
In the given scenario this was used by the salesman when a couple orally agrees to purchase an appliance at a special price, he tells them he misquoted the price, indicating it was only available for an out-of-stock model with fewer options.
Since the couple had made a commitment to buy the particular appliance, they still buy at the higher price.
When demand and production increase, what usually decreases?
Answer:
Price usually decreases
Explanation: When a product’s demand and production increase, PRICE usually decreases.
Answer:
Prices
Explanation:
Take the example of Apple. If Apple was to lower the price of the iPhone 11 to 300 dollars then there would be way more people buying the iPhone. Demand went up because prices went down
Rita notices her credit score has gone down. She most likely ________.
A
maxed out her credit cards
B
keeps her debt below 30% of her credit card limit
C
pays the balance on her credit card every month
D
never misses a credit card payment
A manufacturer uses a standard cost system with overhead applied based upon direct labor hours. The manufacturing budget for the production of 5,000 units for the month of May included the following information: Direct labor 10,000 hours at $15 per hour $150,000 Variable overhead 30,000 Fixed overhead 80,000 During May, 6,000 units were produced and the fixed overhead budget variance was $2,000 favorable. Fixed overhead during May was
Answer:
Your answer is given below:
Explanation:
Labor efficiency variance = (Standard hour-actual hour)Standard rate
-1500 = (10000*15-X15)
15X = 151500
x(actual hour) = 10100 Hour
give me your best pickup line for brainliest
Answer:
are u from Tennessee? cause ur the only 10 i see
if i said you had a good body would you hold it against me?
your lips look lonely. would they like to meet mine?
The method of determaining what a business will get in exchange for its products
A. pricing
B. supplies
C. Command
D, market
Answer:
A. pricing
Explanation:
Pricing entails determining the value to attach to a product. It is the process through which a business decides how much customers will pay for its products. A business must consider the production costs and the desired margins when setting a price.
Price plays a crucial role in the success of a product and the business. A high price has higher profit margins but may put-off some customers. A low price may attract demand but may lead to losses. Sometimes, low prices are associated with a poor quality product.
How does your state’s on-time payment record compare to the national rate?
It should be noted that my state’s on-time payment record is high compare to the national rate.
What is a credit score?A credit score serves as a numerical expression based on a level analysis of a person's credit files.
This is a term that to represent the creditworthiness of an individual after his account has been checked.
learn more about credit score at;
https://brainly.com/question/11421834
It is a good idea to get and use an many credit cards as possible to build credit history. True False
what are the effect off high altitude on a compresspr performance?
At high altitudes, compressors experience reduced air density, decreased mass flow rate, reduced cooling effectiveness, lower power output, decreased efficiency, and increased risks of overloading and overheating.
The performance of a compressor can be affected by high altitude due to several factors. Here are the step-by-step explanations of the effects:
1. Reduced air density: As altitude increases, the air density decreases. Compressors rely on the intake of air to compress and deliver it at a higher pressure. With lower air density, the compressor receives less air per unit volume, leading to reduced compressor performance.
2. Decreased mass flow rate: The reduced air density at high altitude also results in a decrease in the mass flow rate of air through the compressor. This reduces the amount of air available for compression, leading to lower compressor performance and reduced output.
3. Reduced cooling effectiveness: Compressors generate heat during the compression process. Normally, this heat is dissipated through cooling mechanisms such as air or water cooling. However, at high altitudes, the thinner air reduces the cooling effectiveness, leading to increased operating temperatures. Elevated temperatures can negatively impact the compressor's efficiency and performance.
4. Decreased power output: Due to the reduced air density and mass flow rate, the compressor requires more power to achieve the desired compression. This leads to decreased power output, as the compressor may struggle to maintain the same level of performance at high altitudes compared to sea level.
5. Reduced efficiency: The combined effects of reduced air density, decreased mass flow rate, increased operating temperatures, and decreased power output result in reduced overall compressor efficiency at high altitudes. The compressor may operate at a lower efficiency point, requiring more energy input to achieve the same level of compression.
6. Overloading and overheating risks: In some cases, operating a compressor designed for lower altitudes at high altitudes can overload the compressor and cause overheating. The reduced performance and increased demands on the compressor can lead to excessive strain, potentially causing mechanical failures or reduced lifespan.
In summary, high altitude can have several detrimental effects on compressor performance, including reduced air density, decreased mass flow rate, decreased cooling effectiveness, decreased power output, reduced efficiency, and increased risks of overloading and overheating.
To learn more about compressors click here: brainly.com/question/31672001
#SPJ11
Some of the systematic mistakes that people make include
A. placing too much weight on events that are more vivid compared to those with greater statistical probability.
B. being overconfident.
C. being generally unwilling to change their minds.
D. All of the above are correct.
Some of the systematic mistakes that people make include: placing too much weight on events that are more vivid compared to those with greater statistical probability, being overconfident, and being generally unwilling to change their minds. The correct answer is D.
Human beings are prone to making systematic mistakes or biases, which can lead to suboptimal decision-making and poor judgment. The three systematic mistakes listed in the question are common examples of these biases.
The first bias, known as the availability heuristic, refers to the tendency to place more weight on events that are more vivid or memorable, even if they are less likely to occur than events that are more statistically probable. For example, people may be more afraid of flying than driving, even though the statistical probability of dying in a car accident is much higher than dying in a plane crash.
The second bias, overconfidence, refers to the tendency to overestimate one's own abilities, knowledge, or judgment. This can lead people to take unnecessary risks or make poor decisions based on incomplete or inaccurate information.
The third bias, known as confirmation bias, refers to the tendency to seek out and interpret information in a way that confirms one's existing beliefs and values, while disregarding or dismissing evidence that contradicts them. This can make people unwilling to change their minds even in the face of compelling evidence or arguments.
In summary, these three biases are examples of systematic mistakes that people can make when making decisions. By being aware of these biases and taking steps to mitigate their effects, individuals can make more informed and rational decisions. The correct answer is D.
To know more about probability, refer here:
https://brainly.com/question/16988487#
#SPJ11
Complete question:
Some of the systematic mistakes that people make include
A. placing too much weight on events that are more vivid compared to those with greater statistical probability.
B. being overconfident.
C. being generally unwilling to change their minds.
D. All of the above are correct.
who here from K12? (sorry for asking this question)
Answer:
Explanation:
Answer:
Not I.
Explanation:
This is just constructive criticism, but I don't recommend listing your school here.
Suppose that, in a competitive market without government regulations, the equilibrium price of hamburgers is $7 each.
Indicate whether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding.
Statement Price Control Binding or Not
1. The government has instituted a legal minimum price of $8 each for hamburgers.
2. The government prohibits fast-food restaurants from selling hamburgers for more than $8 each.
3. Due to new regulations, fast-food restaurants that would like to pay better wages in order to hire more workers are prohibited from doing so.
Answer:
price floor
Explanation:
due to new regulations, fast food restaurants that would like to pay better wages in order to hire more workers are prohibited from doing so
Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
Read more about net income here:
https://brainly.com/question/28390284
#SPJ1
What is the purpose of FIRM risk scroecard?
a. Risk Assessment
b. Risk Classification
c. Risk control
d. Risk reduction
The purpose of the FIRM risk is all of these: to assist in risk management by providing a systematic approach to assessing, classifying, controlling, and reducing risks. The scorecard helps in evaluating the likelihood and impact of various risks.
By categorizing risks based on their severity, the scorecard allows organizations to identify the most critical areas that require immediate attention and mitigation. The scorecard aids in implementing controls and measures to minimize the probability and impact of risks. It provides a framework for monitoring and managing risks effectively.
In summary, the FIRM risk scorecard serves as a valuable tool in the risk management process, assisting organizations in assessing, classifying, controlling, and reducing risks to ensure the safety and success of their operations.
To know more about FIRM risk visit:-
https://brainly.com/question/29311947
#SPJ11
Question 2 (1 point)
Huda wants to buy soda. A 12-pack costs $9.50. She knows that with the local sales
tax of $2.00, the total should be $11.50. However, when she gets to the checkout,
the total is now $13.00. Which type of tax is Huda MOST likely paying that would
explain the extra $1.50?
estate
excise
inheritance
O income
Question 3 (1 point)
Answer:
$2:00,o income $ 1:50 huda soda most type that tax 3)1 point )
As a job requirement, training involves which of the following?
A. Granting an individual the right to practice a profession
B. Verifying an individual's qualifications
C. Activities related to improving job performance
D. A formal program of study provided by an educational institution
Answer: C. Activities related to improving job performance
Explanation:
Training is the act by which a person is taught a particular skill or made to learn some certain things regarding a job which would be useful in improving job performance.
Training is vital as it improves performance and employee retention. Also, training helps in achieving organizational goals.
The expected return on Karol Co. stock is 16.5 percent. If the risk-free rate is 5 percent and the beta of Karol Co is 1.5, then what is the risk premium on the market? 7.67% 6.10% 5.23% 4.42%
To find the risk premium on the market, we can use the Capital Asset Pricing Model (CAPM) formula:
Expected Return = Risk-Free Rate + Beta × Market Risk Premium
We are given the following information:
Expected Return on Karol Co. stock = 16.5%
Risk-Free Rate = 5%
Beta of Karol Co = 1.5
We need to find the Market Risk Premium. To do this, we can rearrange the CAPM formula:
Market Risk Premium = (Expected Return - Risk-Free Rate) / Beta
Now, we can plug in the values:
Market Risk Premium = (16.5% - 5%) / 1.5
Market Risk Premium = 11.5% / 1.5
Market Risk Premium = 7.67%
So, the risk premium on the market is 7.67%.
To know more about Capital Asset Pricing Model:
https://brainly.com/question/28103070
#SPJ11
g true or false? closed meetings of alcoholics anonymous are for alcoholics having a serious desire to completely stop drinking. question 50 options: true false
The statement is true that the closed meetings of Alcoholics Anonymous are for individuals who have serious desire to completely stop drinking and are typically only the open to those who identify as alcoholics or have a desire to stop drinking.
These meetings provide a safe and supportive environment for individuals to share their experiences and struggles with others who can relate to their addiction. The anonymity of these meetings allows individuals to feel more comfortable sharing their personal stories and seeking support without fear of judgment or disclosure. Overall, the closed meetings are an important aspect of Alcoholics Anonymous and play crucial role in helping individuals achieve and maintain the sobriety.
To learn more about meeting, visit:
https://brainly.com/question/31592513
#SPJ11
During the year, Squid Roe Inc.'s revenues were $200,000 and its net income was $60,000. It had not preferred shares, and its stockholders' equity and total assets were $380,000 and $780,000 at the beginning of the year and $420,000 and $900,000 at year-end, respectively. ROE (rounded to the nearest tenth of a percent) equals ______. Multiple choice question. 14.3% 50.0% 6.7% 15.0% 7.1%
Based on the information given the return on equity (ROE) is 15.0%.
Using this formula
Return on equity (ROE)=Net income/ Average Stockholders' equity
Let plug in the formula
Return on equity (ROE)=$60,000/[($380,000+$420,000)/2]
Return on equity (ROE)=$60,000/($800,000/2)
Return on equity (ROE)=$60,0000/$400,000
Return on equity (ROE)=0.15×100
Return on equity (ROE)=15%
Inconclusion the return on equity (ROE) is 15.0%.
Learn more about return on equity (ROE) here:https://brainly.com/question/25648334
A local government implemented a tax of $2 for each Uber pickup at the airport.
As a result, consumers pay $2 more for an Uber from the airport. What do we know about the Uber market? answer in relation with microeconomics concepts
Answer:
The implementation of the $2 tax for each Uber pickup at the airport leads to an increase in the price of the service, which results in a decrease in the demand for Uber at the airport. This is an example of how government policies, specifically taxes, can affect market outcomes in microeconomics. In this case, the tax creates a negative externality for Uber users who are forced to pay more for the same service, resulting in a decrease in the quantity demanded of the service.
hope this helps...
A note card company has found that the marginal cost per card of producing x note cards is given by the function below, C′(x)=−0.03x+84;x≤1000
where C'(x) is the marginal cost, in cents, per card. Find the total cost of producing 740 cards, disregarding any fixed costs.
To find the total cost of producing 740 note cards, we need to integrate the marginal cost function C'(x) with respect to x over the desired range.
Given the marginal cost function C'(x) = -0.03x + 84, where x ≤ 1000, we can integrate it to find the total cost function C(x):
C(x) = ∫(-0.03x + 84) dx
Integrating, we get:
C(x) = -0.015x^2 + 84x + C
Now, to find the total cost of producing 740 cards, we evaluate the total cost function C(x) at x = 740:
C(740) = -0.015(740)^2 + 84(740) + C
Since we are disregarding any fixed costs, the constant term C does not affect the cost of producing 740 cards. Therefore, we can ignore it in this context.
C(740) = -0.015(740)^2 + 84(740)
Simplifying the equation:
C(740) = -0.015(547600) + 62360
C(740) = -8214 + 62360
C(740) = 54146
The total cost of producing 740 note cards, disregarding any fixed costs, is 54,146 cents.
Note: It's worth noting that the cost is given in cents, so you may convert it to dollars if needed by dividing by 100.
To learn more about marginal cost, Visit:
https://brainly.com/question/32519159
#SPJ11
Olde ple designs and manufactures shoes Olde ple can select only one of two protsenth of which wow Depending on the state of the economy, nach project has different throws Project Casual shoes Formal shoes Weak Economy 200,000 800,000 Strong Economy 1.600.000 1.400,000 The probability of a weak economy is 45% and a strong economy in 65%. The firm needs to raise 600.000 cott toner om next year Calculate the total firm wealth for both projects in both scenarios. If Olde ple's managers wish to maximize the total wealth of the who they invest in? Calculate the wealth available to shareholders for both projects in both scenarios. It Olde ple's managers wish to maximize shareholder en which proact should they invest in? mark it.
To calculate the total firm wealth and wealth available to shareholders for both projects in both scenarios, we can multiply the profits of each project by their respective probabilities.
Let's calculate the total firm wealth: For Project Formal shoes: Weak Economy: 800,000 * 0.45 = 360,000 Strong Economy: 1,400,000 * 0.65 = 910,000 Now, let's calculate the wealth available to shareholders: Assuming the cost of capital is 600,000: For Project Casual shoes: Weak Economy: 90,000 - 600,000 = -510,000 (Loss) Strong Economy: 1,040,000 - 600,000 = 440,000 To maximize total firm wealth, Olde Ple should invest in the project with the highest total firm wealth. In this case, it would be Project Formal shoes, which has a higher total firm wealth in both scenarios. To maximize shareholder wealth, Olde Ple should invest in the project that provides a positive wealth available to shareholders. In this case, it would be Project Formal shoes in the strong economy scenario, which has a wealth available to shareholders of 310,000.
learn more about:- shareholders here
https://brainly.com/question/32134220
#SPJ11
A three-step model developed by Kenneth Blanchard and Norman Vincent Peale is used to evaluate:a. alcoholismb. legal issuesc. comparable worthd. an ethical dilemma
The three-step model developed by Kenneth Blanchard and Norman Vincent Peale is commonly used to evaluate ethical dilemmas.
The first step of the model is to determine whether the action in question is legal. This step is important because it establishes a baseline of ethical behavior. If an action is illegal, it is generally considered unethical.
The second step of the model is to evaluate whether the action is balanced or fair to all parties involved. This step takes into account the interests of all stakeholders and seeks to find a solution that is mutually beneficial.
To know more about Kenneth Blanchard visit:-
https://brainly.com/question/29602641
#SPJ11
Answer question below with 150 words:
How do the income statement and the balance sheet help management make good decisions?
Answer:
The income statement and the balance sheet are two essential financial statements that help management make informed and wise decisions. The income statement shows the performance of a company over a certain period of time by providing information on revenue, expenses, and profits. This provides management with an understanding of how their business is performing, as well as any areas that need improvement. It also helps them to measure their successes and failures, gain insights into future opportunities, and decide on how to allocate their resources.
The balance sheet, on the other hand, provides a snapshot of the company's financial position at a given moment. It shows the total assets, liabilities, and equity owned by the company, allowing management to spot any upcoming cash flow problems and devise strategies to address them. It also helps management to better understand where their assets are invested, as well as their current financial assets and liabilities.
Overall, both the income statement and the balance sheet are important tools for management when making decisions. They offer an in-depth look at the financial position of a business and enable management to effectively manage their resources and plan for the future.
A scale drawn on the map shows that 1 inch represents 40 miles. If two cities are 2.5 inches apart on the map, what is the distance between them in real life?
A. 100 Miles
B. 90 Miles
C. 70 Miles
D. 60 Miles
If two cities are 2.5 inches apart on the map, 60 Miles is the distance between them in real life. Thus, its D.
What is a map?A map is a sign that emphasizes the connections between various components of a space, such as locations, themes, or objects. Some maps are dynamic or interactive, while others are static and attached to paper or another long-lasting material.
Maps can represent any location, actual or imagined, without respect to context or scale, as seen in brain mapping, DNA mapping, or computer routing protocol mapping, despite the fact that they are most frequently employed to describe geography.
The space that is being mapped can be two dimensional, like the earth's surface, three dimensional, like the earth's interior, or further abstract environments of any dimension, like those that emerge when modeling phenomena with lots of independent variables.
Learn more about map, here
https://brainly.com/question/1565784
#SPJ7
Part II: Elastic or Inelastic?
Instructions: Determine whether the demand for the following items is price clastic or inelastic,
Write your answer on the line after the item. Then write the reasons for your answer.
A. Salt
Why?
B. New cars
Why?
C. Pork chops
Why?
D. European vacation
Why?
E. Insulin
Why?
F. Insulin at one of four drug
stores in a shopping mall
Why?
G. Gasoline purchased one day
after a 20 percent price increase
Why?
I
HL Gasoline purchased one year
after a 20 percent price increase
Why?
a. The demand for salt is price inelastic. This is because salt is considered a necessity in making meals.
b. The demand for new cars is price elastic. This is because there are many substitutes for new cars. For example, the bus is a substitute for a new car.
c. The demand for pork chops is price elastic. This is because there are many other types of foods that can be consumed instead of pork chops.
d. The demand for European vacation is price elastic. This is because vacations are not a necessity; they are a luxury.
e. The demand for Insulin is price inelastic. This is because insulin is very important to a diabetic patient
f. The demand for Insulin at one of four drug stores in a shopping mall is price inelastic. This is because consumers have choices between the four drug stores in the mall
g. The demand for gasoline purchased one day after a 20 percent price increase is price inelastic. This is because in the short run, consumers do not have enough time to search for suitable substitutes, so demand would be inelastic
h. The demand for gasoline purchased one year after a 20 percent price increase is price elastic. This is because in the long run, consumers would have enough time to find suitable substitutes.
Demand is price elastic if the quantity demanded of a good is sensitive to small changes in the price of the good
Demand is considered inelastic if the quantity demanded of a good is less sensitive to changes in the price of a good.
Factors that affect the price elasticity of demand
Time frame: demand is inelastic in the short run because consumers would not have enough time to find cheaper substitutes. In the long run, demand is elastic because consumers would have enough time to search for substitutes. Number of close substitutes : If there are many substitutes for a good, the demand for the good would be elastic. If there are no close substitutes, the demand for the good would be inelastic Nature of the good: if the good is considered a necessity, the demand for the good would be inelastic and if the good is considered a luxury, the demand for the good would be inelastic.To learn more about elasticity of demand, please check: https://brainly.com/question/14897348?referrer=searchResults
who is ur top 3 favorite presidents
Answer:
George Washingto, Abraham Lincol, joe Biden
Explanation: