Inelastic demand exists when a small percentage decrease in price produces a smaller percentage increase in quantity demanded. the quantity demanded remains the same regardless of any changes in marketing strategies. the price is governed by outsides entities but the demand remains high due to these restrictions that make the product exclusive. a small percentage increase in price produces a larger percentage increase in quantity demanded. an increase in price is impossible due to government restrictions.

You own a nonunion company with 93 nonexempt employees. all of these employ- ees pack books into boxes for shipment to customers throughout the united states. because of wide differences in performance, you have decided to try performance appraisal, something never done before. until now, you have given every worker the same size increase. now you want to measure performance and reward the best performers with bigger increases. without any further information, which of the five types of appraisal formats do you think would be most appropriate? justify your answer. do you anticipate any complaints, or other comments, from employees after you implement your new system?