Suppose the Price of a Snickers Candy Bar Is $2

question 110

Multiple Choice

Suppose the price of a Snickers candy bar is $2.00 at both the airport and the grocery store. The price elasticity of demand for a Snickers candy bar at an airport is likely to be ________ the price elasticity of demand for a Snickers candy bar at the grocery store.

• A)less than
• B)equal to
• C)greater than
• D)the reciprocal of

---

Definitions:

Division of Labor

Division of labor is the assignment of different parts of a manufacturing process or task to different people in order to improve efficiency.

Productivity

A measure of average output or real output per unit of input. For example, the productivity of labor is determined by dividing real output by hours of work.

Workers' Abilities

The skills, expertise, and competencies that employees possess, which contribute to their performance and productivity in the workplace.

Time Loss

The amount of productive time lost due to various reasons, such as equipment breakdowns, illnesses, or inefficiencies.