Cary Increases the Price of Her Cakes from $8 to $10

question 48

Multiple Choice

Cary increases the price of her cakes from $8 to $10 per cake, but her cash receipts decrease by 2 percent. The price elasticity of demand (in the $8 to $10 range) is

• A) elastic.
• B) inelastic.
• C) 0.02.
• D) 0.25.

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Definitions:

Transparent Barrier

Often metaphorical barriers that are not visibly obvious but impede progress or communication, such as unspoken social norms or prejudices.

Glass Ceiling

An invisible barrier preventing minorities and women from rising to upper echelons of power or leadership in an organization despite their qualifications.

Upper Managers

Individuals who hold top-level positions within an organization, responsible for setting policies, strategic planning, and coordinating the activities of various departments.

High Potential

An individual identified as having the abilities, motivations, and possibility to climb up the organizational hierarchy significantly.