Which of the Following Is an Example of a Short-Run

question 40

Multiple Choice

Which of the following is an example of a short-run decision?

• A) An automobile manufacturing company considering whether to invest in robotic equipment to develop a more cost-effective production technique.
• B) An automobile manufacturing company considering whether to expand its existing workforce.
• C) A business consulting firm considering whether to open a new office in another city where many of its clients are based.
• D) A business consulting firm considering whether to hire new consultants, move to a larger space, and purchase additional equipment.

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Definitions:

Random Order

A sequence of items, events, or numbers arranged without any predictable pattern or plan.

Men

Adult human males, often referred to in contexts discussing demographics, health, or social issues.

Random Order

A sequence or arrangement where items are shuffled in a way that each possible order has an equal chance of occurring.

Probability

A numerical expression signifying the probability of an event's occurrence, scaled from 0 to 1, where a score of 0 implies the event is impossible and a score of 1 assures the event will occur.