Which One of the Following Is Not a Basic Option

question 78

Multiple Choice

Which one of the following is not a basic option for altering demand?

• A)promotion
• B)backordering
• C)pricing
• D)subcontracting
• E)All of these are demand options.

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Definitions:

Purely Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and a product that is homogeneous across suppliers.

Short Run

A period of time during which at least one input, like equipment or labor, is fixed while others can be varied to change output levels.

Automatic Market Adjustments

The self-regulating behavior of markets where prices and quantities adjust to changes in demand and supply conditions without external intervention.

Purely Competitive Firm

A market structure where firms are price takers and sell homogeneous products with many buyers and sellers, leading to perfect competition.