Refer to the Figure Above

question 9

Multiple Choice

Refer to the figure above.What is the price elasticity of supply between points A and B above?

• A) -1
• B) 1/3
• C) 1
• D) 2 The change in quantity is (12 - 6)/(12 + 6)= 0.33 and the change in price is (4 - 2)/(4 + 2)= 0.33.Thus,the elasticity is 0.33/0.33 = 1.0.

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Definitions:

Social Issues

Problems that influence a considerable number of individuals within a society, reflecting group conflicts and challenges.

Obstructionist Strategy

Avoids social responsibility and reflects mainly economic priorities.

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