The price of labor in the poultry industry has just increased. For poultry, this will lead to
A. a decrease in price and a decrease in quantity.
B. an increase in price and an increase in quantity.
C. a decrease in price and an increase in quantity.
D. an increase in price and a decrease in quantity.
Answer: D
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Which of the following statements about straight-line demand curves is true?
a. The price elasticity of demand becomes larger in absolute value as price falls. b. The price elasticity of demand becomes smaller in absolute value as price falls. c. The price elasticity of demand is constant along the curve. d. The price elasticity of demand and the slope of the demand curve are the same. e. Demand is price elastic everywhere along the curve.
What does the supervisor need to do with Jones? What kinds of compromises or adjustments does Jones need to make in order to become a team member?
What will be an ideal response?