If a Product Is Manufactured Under Conditions of Constant Cost

question 176

Multiple Choice

If a product is manufactured under conditions of constant cost, an increase in the demand for the product will increase

• A) both equilibrium quantity and equilibrium price in the long run.
• B) equilibrium price, but equilibrium quantity will be unchanged in the long run.
• C) equilibrium quantity, but equilibrium price will be unchanged in the long run.
• D) equilibrium quantity but reduce equilibrium price in the long run.

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Definitions:

Weight

A measure of the heaviness of an object, often quantified using units such as kilograms or pounds.

Correlation

A statistical measure that describes the extent to which two variables change together.

pH

A measure of the acidity or basicity of an aqueous solution, ranging from 0 to 14, where 7 is neutral, lower values are more acidic, and higher values are more basic.

Hardness

A measure of the resistance of a material to deformation or penetration.