At a Price of $4 Per Unit, Gadgets Inc

question 104

Multiple Choice

At a price of $4 per unit, Gadgets Inc. is willing to supply 20,000 gadgets, while United Gadgets is willing to supply 10,000 gadgets. If the price were to rise to $8 per unit, their respective quantities supplied would rise to 45,000 and 25,000. If these are the only two firms supplying gadgets, what is the elasticity of supply in the market for gadgets?

• A) 1.2
• B) 1.0
• C) .833
• D) .80

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Definitions:

Preoperative Education

Information and guidance provided to patients to prepare them mentally, physically, and emotionally for an upcoming surgical procedure.

Ambulatory Surgical Patient

A patient who undergoes surgery and is discharged on the same day, without the need for hospital admission.

Discharge Criteria

The specific conditions and guidelines under which a patient is considered stable and safe to leave a medical facility.

Anaesthesia

A state of controlled, temporary loss of sensation or awareness that is induced for medical purposes.