If the Price of Cocoa Rises by 20 Percent, the Quantity

question 202

Multiple Choice

If the price of cocoa rises by 20 percent, the quantity supplied of cocoa rises by 4 percent. What is the elasticity of supply?

• A) 5
• B) 2
• C) 0.2
• D) 0.008

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Definitions:

Flow

In electrical contexts, flow refers to the movement or circulation of electric current through a conductor or circuit.

Semiconductor

A material that contains four valence electrons and is used in the production of solid-state devices.

Valence Electrons

The electrons in an atom's outer shell, which determine the chemical properties of the element and its reactivity.

Producing Electricity

The process of generating electric power from other forms of energy, such as mechanical energy or chemical energy.