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October 19, 2021 

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ADVERTISING: Information provided about a product by a company to promote or maintain sales, revenue, and or profit. Advertising is often an explicit method of signalling that sellers use to provide information to buyers. The primary objective of advertising from the sellers perspective is to increase (or at least maintain) demand for a product. To accomplish this objective advertising provides buyers with two important types of information -- prices and product quality.

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Lesson 11: Elasticity Basics | Unit 4: A Continuum Page: 21 of 25

Topic: Unit Elastic <=PAGE BACK | PAGE NEXT=>

  • Let's end this unit with what lies in the middle of the elasticity continuum lies unit elastic.

  • Unit elastic is an elasticity alternative in which any percentage change in one variable (price) causes an equal percentage change in another variable (quantity).
  • This applies to both the price elasticity of demand and the price elasticity of supply, because the negative value of the price elasticity of demand is ignored.

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MANAGERIAL BEHAVIOR

A preference for maintaining the status quo over changing it based on relatively greater satisfaction generated by redundant information over novel information. Managerial behavior is well suited for keeping an existing business and complex organizations running smoothly and efficiently. This behavior is inclined to manage, to administer, and to apply existing rules and procedures. An alternative is entrepreneurial behavior, which is a preference for changing the status quo over maintaining it.

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Today, you are likely to spend a great deal of time searching the newspaper want ads looking to buy either several magazines on fashion design or a package of 3 by 5 index cards, the ones without lines. Be on the lookout for poorly written technical manuals.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
"Think not of yourself as the architect of your career but as the sculptor. Expect to have to do a lot of hard hammering and chiseling and scraping and polishing. "

-- B. C. Forbes, founder, Forbes magazine

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American Air Export and Import Company
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