In airline industry, suppliers prefer to adopt dynamic pricing in order to constantly monitor and change their fares inresponse to market conditions. Dynamics pricing is based on which costing method?

• A.Activity-based costing
• B.Cost plus costing
• C.Absorption costing
• D.Marginal costing

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What is the most likely outcome when two organisations with adversarial relationship negotiate with each other?

• A.Deadlocked
• B.Lose lose
• C.Win lose
• D.Win win

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Which of the following are rules of attentive listening? Select TWO that apply.

• A.Prepare for whatto say next
• B.React to the person who is speaking
• C.Listen deliberately
• D.Only focus on verbal cues
• E.Do not interrupt when the other party is speaking

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In general, which of the following is the consequence of a flatter demand curve?

• A.Quantityelastic
• B.Price elastic
• C.Price inelastic
• D.Unit price elastic

Correct Answer: B

Explanation
Elasticity refers to the responsiveness of quantity demanded or quantity supplied to a change in price or another factor.
In microeconomic graphs,elasticity and inelasticity can be shown by the slope of the demand curve. If a demand curve is almost horizontal, then the product pricing can be described as very elastic. If a demand curve is almost vertical, then the product pricing can be described asvery inelastic.
The formulae of elasticity:
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LO 2, AC 2.2

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How contribution is calculated in break-even analysis?

• A.Fixed costs divided by variable costs
• B.Variable costs subtracted from price
• C.Price minus fixed costs
• D.Variable costs subtracted from fixed costs

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