Which of the Following Explains the Relationship Between Price and the Quantity

question 174

Multiple Choice

Which of the following explains the relationship between price and the quantity supplied?

• A)When expanding output, firms will incur greater total costs.
• B)As the price of a commodity falls, producers will find it more profitable to use higher-priced inputs in their production process.
• C)As a result of rising production costs, firms can increase profits by expanding output only if the price of output increases.
• D)To expand output, firms must hire more resources, which are always of poorer quality.
• E)Consumers want more at lower prices.

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Definitions:

Measurement Technologies

Tools and systems used for determining the magnitude, quantity, or capacity of physical attributes or performance.

Marketing Spending

The total expenditure by a company on marketing activities, including advertising, promotions, and other strategies to increase sales.

Primary Target Market

The specific group of consumers identified by a business as its main focus for marketing efforts, based on shared characteristics or needs.

On-the-Go Women

Refers to products or services specifically designed or marketed to meet the needs of women with busy lifestyles.