Use the Following to Answer Question(s)

question 238

Multiple Choice

Use the following to answer question(s) :
Exhibit: Supply: Short and Long Run

-(Exhibit: Supply: Short and Long Run) If industry expansion tends to increase production costs, then the relevant long-run supply curve is:

• A) the horizontal axis.
• B) S₂.
• C) S₃.
• D) S₄.

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Definitions:

Enlarged Jobs

Tasks or job roles that have been expanded to include more varied duties, often to increase employee satisfaction and productivity.

Horizontal Expansion

A business growth strategy involving the increase of production or the expansion of product lines within the same level of the supply chain.

Vertical Expansion

The growth of a company by acquiring or establishing operations within the same industry but at different stages of the production process.

Skill Variety

Describes the degree to which a job requires a variety of different activities in carrying out the work, involving the use of different skills and talents.