When the Gizmo Company Could Sell a Gizmo for $10

question 267

Multiple Choice

When the Gizmo Company could sell a gizmo for $10, it produced 2,500 per month. More recently, the price of a gizmo has fallen to $9 and so Gizmo is only producing 2,000 units per month. What is the price elasticity of supply for gizmos?

• A) 0.47
• B) -0.47
• C) -2.11
• D) 2.11

---

Definitions:

Productive Cough

A cough that is accompanied by the expulsion of mucus or phlegm from the respiratory tract.

Dyspnea

A medical term for the sensation of difficulty or discomfort in breathing, often described as feeling short of breath.

Common Cold

The common cold is a viral infectious disease of the upper respiratory tract that primarily affects the nose.

Influenza

An extremely infectious virus that targets the respiratory tract, widely referred to as influenza.