(Table) Refer to the Demand Schedule for Honey in the Table

question 107

Multiple Choice

(Table) Refer to the demand schedule for honey in the table. In this price range, the demand for honey is
$\begin{array}{|l|l|}\hline \begin{array}{l}\text { Price of a Jar } \\\text { of Honey }\end{array} & \begin{array}{l}\text { Quantity of Honey } \\\text { (millions of jars) }\end{array} \\\hline \$ 2 & 10 \\\hline 4 & 8 \\\hline 6 & 6 \\\hline\end{array}$

• A) inelastic.
• B) elastic.
• C) unitary elastic.
• D) unknown.

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Definitions:

Hersey-Blanchard

A situational leadership model developed by Paul Hersey and Kenneth Blanchard that suggests the best leadership style is contingent on the level of followers' maturity.

Contingency Models of Leadership

Contingency models of leadership propose that the effectiveness of leadership is contingent upon the interplay between a leader's style of leadership and the demands of the situation.

Empowerment

The process of enabling or authorizing an individual to think, behave, take action, and control work and decision-making in autonomous ways.

Leadership

The act of guiding and directing a group towards achieving goals by influencing the behaviors, attitudes, and thoughts of others.