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Answer:
a. Calculate the price elasticity of supply for Aji's Chocolate Factory in February
b. Calculate the price elasticity of supply for Aji's Chocolate Factory in March
c. If Aji's Factory is nearly at full capacity of production in March, what will happen to Aji's Factory price elasticity of supply in April?
- If the company is producing at full capacity, then its price elasticity of supply will be perfectly inelastic even if the price increases. This is because any increase in price will not affect the quantity supplied because the company cannot increase it even if they wanted to.
Explanation:
price elasticity of supply = % change in quantity supplied / % change in price
It measures the proportional change in the quantity supplied that producers will make given a 1% change in the price of their product.
PES February = [(110 - 80)/80] / [(2.5 - 2)/2] = 0.375 / 0.25 = 1.5
PES March = [(140 - 110)/110] / [(3 - 2.5)/2.5] = 0.273 / 0.2 = 1.36
Answer:
Ambiguity because the reason is that "The goal is not clear, and neither is the solution". (Option D)
Explanation:
Ambiguity is the situation in which the management is not clear about the solution and setting goals though their are number of options are available.
The reason is that the goal is not clear here and Gawain is uncertain how to resolve the problem. In such situations the researcher must contact his senior level management and ask for guidelines which addresses what should Gawain prefer to do, make bottles bio-degradable or make chemicals research which makes the water taste better.
