Jenny Sells Lemonade in Front of Her House in the Summer

question 102

Multiple Choice

Jenny sells lemonade in front of her house in the summer. Several other kids in Jenny's neighborhood also run lemonade stands in the summer. If the lemonade market is perfectly competitive and price is already at the equilibrium level, Jenny can increase her revenue if she:

• A)decreases the price of her lemonade and doesn't change her output.
• B)increases the price of her lemonade and decreases her output.
• C)increases the price of her lemonade and doesn't change her output.
• D)keeps the price of her lemonade the same and increases the output.

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Definitions:

Functional Teams

Groups of individuals who are divided according to their specific roles or functions within an organization, working together towards common objectives.

Organizational Culture

The shared values, beliefs, and norms that influence the way employees think, feel, and behave in an organization.

Abstract Concept

An idea or notion that is not concrete or tangible but exists as a thought or theory.

Constrains

Factors that restrict the scope, timing, or outcome of a project or activity.