Olga owns a pastry-shop which sells only chocolate croissants. Suppose last month she sold the croissants for $3 each and earned $300. This month she increases the price of croissant to $5 and earns $300. What is the price elasticity of demand for Olga's chocolate croissants?

options:

	Perfectly elastic
	Unit-elastic
	Inelastic
	Elastic, but not perfectly elastic

Consider the firm's cost shown in the table below. At what quantity is the average total cost the lowest?

Qty	Total Cost
0	200
10	400
20	700
30	800
40	1100

options:

	40
	20
	10
	30

Egg producers know that the elasticity of demand for eggs is 0.1. What would be the percentage decrease in the price of eggs if the quantity demanded increased by 5%?

options:

	0.1%
	1%
	50%
	5%

Number of Workers	Candles per hour
0	0
1	3
2	7
3	12
4	18
5	26

The table above provides the total number of workers and the resulting total output per hour for The Candles Company, holding all other inputs constant.

What is the TRUE about The Candles Company returns to labor?

options:

	Diminishing returns to labor
	First increasing and then diminishing
	Constant returns to labor
	Increasing returns to labor