If a Tripling of Price Triples the Quantity of a Good

question 15

Multiple Choice

If a tripling of price triples the quantity of a good supplied, the price elasticity of supply for this good is:

• A) 3.
• B) 300.
• C) 1.
• D) − 1.

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Definitions:

Leadership Style

The manner and approach of providing direction, implementing plans, and motivating people.

Team Management

The process of leading, organizing, planning, and controlling a group of individuals to achieve specific goals.

Authority-Obedience

A management approach focused on establishing clear lines of authority and expecting strict compliance from subordinates.

Country Club

A private club offering recreational sports, leisure activities, and dining facilities, typically reserved for members and their guests.