If a 25% Change in Price Results in a 40

question 77

Multiple Choice

If a 25% change in price results in a 40% change in quantity supplied,then the price elasticity of supply is about

• A)0.63,and supply is elastic.
• B)0.63,and supply is inelastic.
• C)1.60,and supply is elastic.
• D)1.60,and supply is inelastic.

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Definitions:

Affective Commitment

The emotional attachment an employee feels towards their organization, influencing their willingness to remain a part of it.

Continuance Commitment

A form of commitment that is based on the costs that an individual associates with leaving an organization.

Affective Commitment

The emotional attachment, identification, and involvement that an employee has with their organization.

Normative Commitment

The level of an individual's psychological attachment to an organization because of a sense of obligation.