For teenagers, a 10 percent increase in the price of cigarettes leads to a
a. 1 percent reduction in the quantity demanded of cigarettes.
b. 4 percent reduction in the quantity demanded of cigarettes.
c. 10 percent reduction in the quantity demanded of cigarettes.
d. 12 percent reduction in the quantity demanded of cigarettes.
d
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Which of the following is TRUE?
a. Maximizing division profits can sometimes lead to reducing company-wide profits b. Managers of profit centers are not given any discretion in their decision making c. Profit centers usually require the highest degree of attention of corporate executives d. A manager being rewarded on division revenues has no incentive to make good decisions for his division
The Fair Labor Standards Act of 1938
A. Eliminated minimum wages created during World War I. B. Granted women the right to work in nonclerical occupations. C. Set a minimum wage of 25 cents per hour. D. Established maximum work hours per day.