If the Price Elasticity of Supply Is 0

question 182

Multiple Choice

If the price elasticity of supply is 0.8, and price increased by 21 percent, quantity supplied would

• A)increase by 26.25 percent.
• B)increase by 16.80 percent.
• C)decrease by 26.25 percent.
• D)decrease by 16.80 percent.

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Definitions:

Esteem Needs

Esteem needs encompass an individual's desire for respect, self-esteem, self-confidence, and the recognition and appreciation from others.

Achievement Motivation

Describes a person's drive to strive for success and accomplish challenging goals.

Competitive Situations

Scenarios or environments where individuals or groups are in competition with each other to achieve a certain goal, often leading to heightened levels of performance.

Standard Of Excellence

A level of quality or achievement that is considered superior and serves as a benchmark for others to strive toward.