Assuming That the Demand for Cars Is Constant, an Increase

question 33

Multiple Choice

Assuming that the demand for cars is constant, an increase in the cost of labour used in producing cars will lead to:

• A) an increase in the equilibrium price but a decrease in the equilibrium quantity.
• B) a decrease in the equilibrium price but an increase in the equilibrium quantity.
• C) a decrease in both the equilibrium price and quantity.
• D) an increase in both the equilibrium price and quantity.

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Definitions:

Maintenance Tasks

Routine and essential activities required to keep machinery, equipment, or a system operating efficiently and effectively.

Flexibility Types

Various classifications of adaptability in an organization, including but not limited to workflow, workforce, and product/service flexibility.

Employee Concerns

Issues or problems raised by employees related to their work environment, job duties, management practices, or workplace relationships.

Just In Time

A management strategy that aligns raw-material orders from suppliers directly with production schedules to increase efficiency and reduce waste.