-The Figure Shows the Demand Curve for Popsicles

question 83

Multiple Choice

-The figure shows the demand curve for popsicles. The price elasticity of demand when the price of a popsicle increases from $0.30 to $0.50 is

• A) 0.
• B) 1.
• C) 1/2.
• D) 2.

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Definitions:

Rand Formula

An option in a collective agreement enabling employees to retain the right not to join the union, though they are still required to pay union dues; also known as an agency shop.

Check-Off Provision

A provision in a collective agreement whereby employees agree to have the employer deduct union dues from their payroll.

Non-Competition Clause

A contract provision preventing an employee from entering into competition with their employer during or after their employment period.

Proprietary Interest

The ownership interest or rights in something, often associated with property or intellectual rights.