When the Price of a Basketball Is $15,the Quantity Supplied

question 84

Multiple Choice

When the price of a basketball is $15,the quantity supplied is 5,000.When the price increases to $20,the quantity supplied is 10,000.The price elasticity of supply is

• A) 2.33.
• B) 0.67.
• C) 0.33.
• D) 0.43.
• E) 0.29.

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Definitions:

Own Groups

The social groups to which an individual feels they belong, often leading to favoritism toward group members and bias against outsiders.

Social Learning

A theory positing that people learn from one another, via observation, imitation, and modeling.

Attitude Formation

The process by which individuals develop and change their evaluation of objects, people, or events, based on factors like personal experience, social influence, and genetic predispositions.

Cognitive Appraisal

The process by which an individual evaluates and interprets an event or situation in terms of its significance to their well-being, influencing emotional and stress responses.