The Long-Run Supply Curve Would Be Upward Sloping If

question 30

Multiple Choice

The long-run supply curve would be upward sloping if

• A)resource prices fall as industry production contracts.
• B)resource prices rise as industry production contracts.
• C)resource prices are not affected by changes in industry output-level.
• D)resource prices are set by the government.

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Definitions:

Cadillac Dealer

An authorized seller and service provider for Cadillac brand vehicles.

Marketing-Mix Strategy

A plan of action that utilizes the combination of product, price, place, and promotion to market and sell a product effectively.

Target Audience

The target audience is a specific group of consumers identified as the recipients of a particular marketing message or campaign, based on various demographic, psychographic, and behavioral criteria.

Vogue

The prevailing fashion, practice, or style during a particular time, often in the context of clothing, music, or other aspects of culture.