At Price of $1

question 71

Multiple Choice

At price of $1.30 per pound,a local apple orchard is willing to supply 150 pounds of apples per day.At a price of $1.50 per pound,the orchard is willing to supply 170 pounds of apples per day.Using the midpoint method,the price elasticity of supply is about

• A)1.14.
• B)1.00.
• C)0.875.
• D)0.50.

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Definitions:

Hawthorne Studies

The Hawthorne Studies were a series of experiments conducted in the 1920s and 1930s that studied the effects of physical conditions on productivity and later shifted to the psychological aspects, significantly influencing the human relations movement in organizational management.

Motivating Workers

The process of incentivizing employees to improve their performance and productivity.