Specialty Chocolate Bars with a High Cocoa Content Have Been

question 135

Multiple Choice

Specialty chocolate bars with a high cocoa content have been drawing a lot of attention in gourmet circles in 2008 but the price of cocoa beans has increased more than 44 percent in this time period. In response to the increase in the price of cocoa beans, Rogue Chocolatier has increased the price of their gourmet chocolate bars by 20 percent. Rogue notices their firm's total revenue increased after the price increase. We can determine that the demand for Rogue's bars is

• A) inelastic.
• B) elastic.
• C) perfectly inelastic.
• D) unit elastic.

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Definitions:

Directional Selection

Mode of natural selection in which forms of a trait at one end of a range of variation are adaptive.

Disruptive Selection

Mode of natural selection in which forms of a trait at both ends of a range of variation are adaptive, and intermediate forms are selected against.

Hybrid Sterility

A condition in hybrids between different species where the offspring are sterile, unable to produce viable gametes.

Viable Gametes

Sex cells (sperm and eggs) that are capable of fertilization and development into a new organism.