What Is the Usual Response of Firm to an Increase

question 81

Multiple Choice

What is the usual response of firm to an increase in the price of what they sell?

• A)An increase in output
• B)An increase in hiring factors of production
• C)An increase in the profit level of the firm
• D)An increase in employment at the firm
• E)All of these responses are correct.

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Definitions:

Social Control

Mechanisms, strategies, and practices employed by society to regulate behavior and ensure conformity to norms and regulations.

Religious Organizations

Institutions dedicated to the practice and promotion of religious beliefs, rituals, and activities.

Social Indicators

Statistical data or measures that reflect the social well-being and quality of life of individuals, communities, or societies.

Needs Assessment

A process used to evaluate the requirements of a community or organization to identify gaps between current conditions and desired states or outcomes.