If a Product Is Manufactured Under Conditions of Constant Cost

question 110

Multiple Choice

If a product is manufactured under conditions of constant cost, an increase in the demand for the product will increase

• A) both equilibrium quantity and equilibrium price in the long run.
• B) equilibrium price, but equilibrium quantity will be unchanged in the long run.
• C) equilibrium price but reduce equilibrium quantity in the long run.
• D) equilibrium quantity, but equilibrium price will be unchanged in the long run.

Recognize various cost trade-offs in logistics systems.

Understand the concept and significance of IP addressing in networking.

Identify networking devices based on their functionality and the OSI model layers they operate on.

Recognize the role of DHCP in issuing IP configurations.

---

Definitions:

Marginal Revenue Curves

These are graphs that show the relationship between the amount of output a firm sells and the revenue it gains from selling an additional unit of output.

Competitive Firm

A company that operates in a market where there is free entry and exit and no single buyer or seller can influence the market price.

Total Revenue

refers to the full amount of income generated by the sale of goods or services before any expenses are subtracted.

Sinking Fund

A savings account or fund dedicated to paying off debt or a bond, where money is set aside over time to manage future repayment obligations.