In January the Price of Widgets Was $2

question 286

Multiple Choice

In January the price of widgets was $2.00,and Wendy's Widgets produced 80 widgets.In February the price of widgets was $2.50,and Wendy's Widgets produced 110 widgets.In March the price of widgets was $3.00,and Wendy's Widgets produced 140 widgets.The price elasticity of supply of Wendy's Widgets was

• A) 0.70 when the price increased from $2.00 to $2.50 and 0.76 when the price increased from $2.50 to $3.00.
• B) 0.88 when the price increased from $2.00 to $2.50 and 1.08 when the price increased from $2.50 to $3.00.
• C) 1.42 when the price increased from $2.00 to $2.50 and 1.32 when the price increased from $2.50 to $3.00.
• D) 1.50 when the price increased from $2.00 to $2.50 and 1.18 when the price increased from $2.50 to $3.00.

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Definitions:

Chair Conformations

A specific, stable three-dimensional shape adopted by cyclic molecules such as cyclohexane, minimizing steric strain and offering two alternating conformations.

Axial Ethyl

Refers to an ethyl group attached perpendicular to the plane of a molecule, especially in cyclic compounds.

Equatorial Ethyl

A term not typically used in standard chemical nomenclature and could refer to the placement of an ethyl group in an equatorial position on a cyclohexane ring, emphasizing its spatial orientation.

Chair Conformation

A three-dimensional geometric representation of cyclohexane molecules resembling a chair, minimizing strain.