In January, the Price of Dark Chocolate Candy Bars Was

question 118

Multiple Choice

In January, the price of dark chocolate candy bars was $2.00, and Willy's Chocolate Factory produced 80 pounds. In February, the price of dark chocolate candy bars was $2.50, and Willy's produced 110 pounds. In March, the price of dark chocolate candy bars was $3.00, and Willy's produced 140 pounds. Using the midpoint method, the price elasticity of supply of Willy's dark chocolate candy bars was about

• A)0.70 when the price increased from $2.00 to $2.50 and 0.76 when the price increased from $2.50 to $3.00.
• B)0.88 when the price increased from $2.00 to $2.50 and 1.08 when the price increased from $2.50 to $3.00.
• C)1.42 when the price increased from $2.00 to $2.50 and 1.32 when the price increased from $2.50 to $3.00.
• D)1.50 when the price increased from $2.00 to $2.50 and 1.18 when the price increased from $2.50 to $3.00.

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Definitions:

Mutual Goals

Mutual goals are objectives shared by parties in a collaborative effort, where success benefits all involved.

Organizational Outcomes

Refers to the results or effects of business activities, including financial performance, employee satisfaction, and customer satisfaction, among others.

Leaders

Individuals who guide, influence, or direct others towards achieving goals, often demonstrating vision, motivation, and decision-making capabilities.

Collective Leadership

A leadership model in which responsibilities and decision-making are distributed among multiple people or groups rather than centralized in a single leader.