The Supply Curve for Manufactured Goods Is Usually More Elastic

question 144

Multiple Choice

The supply curve for manufactured goods is usually more elastic because production can often be:

• A) increased at higher cost per unit by building more factories.
• B) increased at lower cost per unit by building more factories.
• C) decreased at the same cost per unit by building more factories.
• D) increased at the same cost per unit by building more factories.

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Definitions:

Oranges

A citrus fruit that is often considered in economic examples related to trade, comparative advantage, and consumer choice.

Peaches

A type of fruit with a characteristic fuzzy skin and sweet flesh, commonly eaten fresh or used in cooking and baking.

Human Capital

The improvement in labor created by education and knowledge that is embodied in the workforce.

College Degree

A certification awarded by colleges or universities to signify that a student has completed a specified course of study, typically representing a higher level of education and expertise.