A Rise in the Price of Cabbage from $14 to $18

question 1

Multiple Choice

A rise in the price of cabbage from $14 to $18 per carton increases the quantity supplied from 4,000 to 6,000 cartons. The elasticity of supply is

• A) 0.8.
• B) 1.0.
• C) 0.6.
• D) 1.6.

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Definitions:

Neandertals

An extinct species or subspecies of archaic humans who lived in Eurasia until about 40,000 years ago, known for their distinctive skeletal remains and association with Middle Paleolithic tools.

Homo Sapiens Sapiens

The scientific name for modern humans, emphasizing our species as the most recent development in human evolution.

Nonhuman Primate Beginnings

The evolutionary origins and development of primates other than humans, key to understanding human evolution and biological heritage.

Lumpers and Splitters

Terms used to describe the practice of categorizing information or objects broadly (lumpers) versus categorizing them into many precise, smaller categories (splitters).