When Price Rises from $1

question 67

Multiple Choice

When price rises from $1.50 to $2.50, quantity supplied increases from 9,000 to 11,000 units. What is the price elasticity of supply?

• A)0.4
• B)0.8
• C)2.5
• D)4.0
• E)-0.4

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Definitions:

Johari Window

A model used to improve understanding between individuals within a team or group, highlighting self-awareness and mutual understanding by dividing personal awareness into four areas: open, hidden, blind, and unknown.

Self-description

The way an individual describes or perceives themselves, often reflecting their beliefs, attitudes, and values.

Discussion

The act of talking about something with another person or a group in order to exchange ideas or opinions.

Openness

The willingness to consider new ideas, experiences, and information, often characterized as a dimension of personality.