In January the Price of Dark Chocolate Candy Bars Was

question 22

Multiple Choice

In January the price of dark chocolate candy bars was $2.00,and Willy's Chocolate Factory produced 80 pounds.In February the price of dark chocolate candy bars was $2.50,and Willy's produced 110 pounds.In March the price of dark chocolate candy bars was $3.00,and Willy's produced 140 pounds.The price elasticity of supply of Willy's dark chocolate candy bars was about

• A)0.70 when the price increased from $2.00 to $2.50 and 0.76 when the price increased from $2.50 to $3.00.
• B)0.88 when the price increased from $2.00 to $2.50 and 1.08 when the price increased from $2.50 to $3.00.
• C)1.42 when the price increased from $2.00 to $2.50 and 1.32 when the price increased from $2.50 to $3.00.
• D)1.50 when the price increased from $2.00 to $2.50 and 1.18 when the price increased from $2.50 to $3.00.

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Definitions:

Homogeneous

Composed of parts or elements that are all of the same kind; not heterogeneous.

Agree on Purpose

The act of ensuring all parties involved in an activity or project share a common understanding and objective.

Colleague's Whereabouts

The current location or general situation of a co-worker, often sought for communication or collaboration purposes.

Telephone Calls

A form of real-time voice communication between two or more people using telephones, over a distance.