Suppose That When the Price Per Ream of Recycled Printer

question 135

Multiple Choice

Suppose that when the price per ream of recycled printer paper rises from $4 to $4.50, the quantity demanded falls from 800 to 600 reams per day.Using the midpoint formula, what is the price elasticity of demand (in absolute value) over this range?

• A)0.003
• B)0.41
• C)2.43
• D)4

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Definitions:

Behavioral Observation Scale (BOS)

A variation of a BARS which uses all behaviors necessary for effective performance to rate performance at a task.

Behaviorally Anchored Rating Scale (BARS)

Method of performance measurement that rates behavior in terms of a scale showing specific statements of behavior that describe different levels of performance.

Feedback

Information employers give employees about their skills and knowledge and where these assets fit into the organization's plans.

Behaviorally Anchored Rating Scales (BARS)

An appraisal system that evaluates employees' performance based on specific behavioral examples related to job performance.