Suppose When the Price of Shoe Laces Goes from $1

question 11

Multiple Choice

Suppose when the price of shoe laces goes from $1 to $2 per pair,production increases from 95 million pairs to 105 million pairs per year.Using the mid-point method,the price elasticity of supply is:

• A) 6.28
• B) 66 percent
• C) 10.5 percent
• D) 0.15

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Definitions:

Humanistic Therapy

A therapeutic approach that emphasizes individual potential for growth and focuses on the client's perspective.

Integrative Perspective

A mental health approach that combines elements from various therapeutic techniques and theories to address an individual's unique needs.

Reality Therapist

A therapist who practices reality therapy, a form of counseling that emphasizes personal responsibility and focuses on the present and future, rather than on past events.

Conduct-disordered Adolescent

A term referring to a teenager who displays a persistent pattern of behavior that violates social norms and the rights of others, including aggressive, deceitful, or destructive behavior.