When the Price of a Sweet Roll Is $2, the Bakery

question 215

Multiple Choice

When the price of a sweet roll is $2, the bakery sells 300 rolls per week.If it raises the price to $3, then it sells 150 rolls per week.Based on this, the price elasticity of a sweet roll between these prices is

• A)0.40.
• B)1
• C)1.67.
• D)0.67.

---

Definitions:

Labour Force

The total number of people available for work, including both the employed and the unemployed.

Gender Stratification

The unequal distribution of wealth, power, and privilege across genders within a society.

Private Property

The legal ownership of resources or objects by individuals or corporations, distinguishing from public or communal ownership.

Formal Labour Market

The sector of the economy that involves jobs with official employment contracts, regular hours, benefits, and legal protections.