The Long-Run Market Supply Curve in the Presence of Internal

question 26

Multiple Choice

The long-run market supply curve in the presence of internal economies of scale is ________, and in the presence of external economies of scale, it is ________.

• A) horizontal; upward sloping
• B) downward sloping; downward sloping
• C) upward sloping; downward sloping
• D) upward sloping; horizontal
• E) downward sloping; horizontal

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Definitions:

Homogeneous Market

A market composed of consumers or buyers with similar needs, interests, and characteristics, making it easier to target with specific products or marketing strategies.

Enthusiastic Customers

Individuals who are highly satisfied and passionate about a brand or product, often promoting it voluntarily.

New Economy

An economy based on digital technologies, emphasizing information, knowledge, and innovation.

Generation X

The demographic cohort following the baby boomers, typically defined as being born from the early 1960s to the late 1970s.