The Number of Tonnes of Wheat Sold Rises from 100

question 2

Multiple Choice

The number of tonnes of wheat sold rises from 100 million to 200 million tonnes due to an increase in the price of wheat from $500 to $700 per tonne.The numerical value of the price elasticity of supply is therefore:

• A)0.25
• B)1.25
• C)3.5
• D)2.0
• E)2.5

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Definitions:

Collective Agreements

Contracts made between employers and a group of employees, often represented by a union, that determine the terms of employment, including wages, working hours, and working conditions.

Protocols

Defined sets of rules and conventions for communications or procedures within a particular system or realm of activity.

Notification Periods

Designated times or deadlines by which notices, such as termination or changes in job status, must be given to employees or relevant parties.

Corporate Cultures

The shared values, beliefs, and practices that characterize an organization and its employees.