When the Price of a Good Decreases from $10 to $8

question 134

Multiple Choice

When the price of a good decreases from $10 to $8, the quantity supplied of the good decreases from 80 to 65 units. The price elasticity of supply is

• A) 0.75.
• B) 0.80.
• C) 0.93.
• D) 0.60.

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Definitions:

Workforce Utilization

The effective use of employee skills and abilities in an organization to achieve optimal productivity and efficiency.

Referrals

A method of recruitment in which existing employees recommend potential candidates for job openings within the organization, often seen as a trusted source for new hires.

Nepotism

The practice of hiring relatives.

Self-Selection

The process where individuals choose to participate in or withdraw from activities or opportunities based on their preferences, interests, or perceived skills.