At a Price of $4 Per Unit, Gadgets Inc

question 21

Multiple Choice

At a price of $4 per unit, Gadgets Inc. is willing to supply 20,000 gadgets, while United Gadgets is willing to supply 10,000 gadgets. If the price were to rise to $8 per unit, their respective quantities supplied would rise to 45,000 and 25,000. If these are the only two firms supplying gadgets, what is the elasticity of supply in the market for gadgets?

• A)1.2
• B)1
• C)0.83
• D)0.8

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Definitions:

Carrier Proteins

Proteins involved in the movement of ions, small molecules, or macromolecules, such as another protein, across a biological membrane.

Integral Proteins

Proteins that are permanently attached to the membrane, serving various roles such as transport, cell adhesion, and functioning as enzymes.

Plasma Membrane

The semi-permeable membrane that surrounds the cytoplasm of a cell, controlling the movement of substances in and out.

Membrane-Bound Receptors

Proteins located on the cell surface involved in transmitting signals from the outside to the inside of the cell.