Which of the Following Does Not Influence the Position of the Long-Run

question 43

Multiple Choice

Which of the following does not influence the position of the long-run aggregate supply curve?

• A)The quantity of raw materials available for production
• B)The quantity of capital used in production
• C)The quality of the labor force
• D)The actual price level
• E)The size of the labor force

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Definitions:

Research And Development

The investigative activities a business or government engages in to improve existing products and procedures or to lead to the development of new products and procedures.

Economies Of Scale

Cost advantages that a business achieves due to expansion in the scale of production, leading to a reduction in the cost per unit.

Natural Monopolies

Market conditions where a single supplier is the most efficient (due to high infrastructure costs or other barriers) in providing a particular good or service.

Public Utilities

Companies that provide essential services to the public such as water, electricity, and telecommunications, often subject to government regulation due to their nature of operation.