If an Increase Occurs in the Demand for Product X

question 7

Multiple Choice

If an increase occurs in the demand for product X, we would expect all of the following to occur except:

• A)an increase in the profits of industry X.
• B)an increase in the demand for resources employed by industry X.
• C)an increase in the output of industry X.
• D)a decrease in the prices of resources employed in industry X.

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Definitions:

New Coke

A product launched by Coca-Cola in 1985 as a reformulated version of its original soft drink, which faced significant public backlash leading to a marketing and business learning case.

Crystal Pepsi

A clear version of Pepsi soda that was marketed in the early 1990s, aiming to offer a novel experience to consumers.

Pathways

Refers to the routes or courses of action that can be taken in order to achieve a specific goal or outcome.

Opportunity Identification

The process of finding new prospects or possibilities for business and economic growth.