The "Cherries for All" Farm Is Selling Cherries at $3

question 7

Multiple Choice

The "Cherries for all" farm is selling cherries at $3 per pound and earns a total revenue of $300.The manager decides to increase the price to $4 per pound,but his decision reduces the total revenue to $240.Which of the following is a good explanation for what happened?

• A) The demand for cherries is inelastic
• B) The demand for cherries is perfectly inelastic
• C) The demand for cherries is perfectly elastic
• D) The demand for cherries is elastic
• E) The demand for cherries is unit elastic

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Definitions:

General Public

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Work Environment

The setting, conditions, and culture in which employees operate, including physical layout, social interactions, and organizational policies.

Home Life

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Individual-Organization Relationship

The dynamic between an individual employee and their workplace, encompassing aspects like engagement, loyalty, and productivity.