If the U.S. dollar appreciates relative to the British pound, then we pay fewer dollars for a pound

What factors determine the magnitude of the price elasticity of demand?

What will be an ideal response?

You own an ice cream store and are concerned that an employee may be giving generous scoops to friends and relatives and smaller scoops to some other customers. This may be reducing sales. If you want your employee to stop giving larger scoops to friends and relatives, which of the following is not a good approach?

a. Make visits to the store at the same time each day. b. Pay employees an above equilibrium wage. c. Give your employees a monthly bonus based on profits. d. None of the above are good approaches.