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1)Highlight the importance of operations management, looking at the aspects that organisations consider when trying to understand this vital function of any supply chain

Economics

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1)Highlight the importance of operations management, looking at the aspects that organisations consider when trying to understand this vital function of any supply chain. These include but are not limited to the following aspects: core functions of any organisation, financial implications, improved operations and manufacturing management, and performance measures. Briefly explain these aspects.

2)If you are hired as an advisor for the government in the country of your choice in Q1, what advice would you give to the government to deal with the positive/negative impact of the COVID-19 on the balance of payments of the country? Your advice/solutions should be tailored to the impact you discussed above.

3)Suppose the own-price elasticity of demand for burgers is -0.5. Which of the following is true?
a. An increase in the price of burgers would increase expenditures on burgers.
b. An increase in the price of burgers would decrease expenditures on burgers.
c. An increase in the price of burgers would increase revenues for burger producers.
d. Both (a) and (b)
e. Both (a) and (c)
Why is the answer e (Both a and c)? I understand why c would be correct, but why is it also a?