If Price Increases from $45 to $55, the Market Quantity

question 75

Multiple Choice

If price increases from $45 to $55, the market quantity supplied increases from 20 units per week to 30 units per week.The price elasticity of supply is

• A)1/2 = 0.5
• B)1.0
• C)11/6 = 1.8333
• D)9/4 = 2.25
• E)2.0

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Definitions:

Bevel Gears

Gears designed with angled teeth so they can transmit motion between intersecting shafts, typically at a right angle.

Intersecting Shafts

Shafts that cross each other at any angle other than 90 degrees, often requiring special joint or coupling to transmit power.

Pitch Diameter

The diameter of an imaginary cylindrical surface that runs through the thread of a screw or gear, where this surface would make equal divisions between the peaks and valleys of the threads.

Metric Drawings

Technical drawings that use the metric system for dimensions, measurements, and scales, standard in countries outside of the United States.