If Price Increases from $45 to $55, the Market Quantity

question 78

Multiple Choice

If price increases from $45 to $55, the market quantity supplied increases from 20 units per week to 30 units per week. The price elasticity of supply is:​

• A)0.5.
• B)1.
• C)1.8333.
• D)2.25.
• E)2.

---

Definitions:

Personality Influence

The impact that an individual's character and traits have on their behaviors and the way they interact with the world.

Irrational/Illegitimate Component

An aspect of thought or behavior that lacks logical reasoning or is not sanctioned by societal norms.

Rational/Emotional Component

The aspects of thought and decision-making that involve logical reasoning as well as emotional responses and intuitions.

Personality Shaping

The process by which an individual's character and personality traits are influenced and developed over time through experience and environment.