If the Demand Increases for the Product of a Decreasing-Cost

question 4

Multiple Choice

If the demand increases for the product of a decreasing-cost industry:

• A) short-run price goes up, but long-run price falls.
• B) long-run output goes up, but long-run price may go up or down.
• C) short-run output goes up, but long-run output may go up or down.
• D) long-run output goes up, but short-run price remains constant.
• E) long-run price goes up, but short-run price may go up or down.

Comprehend the fundamental concepts of computer languages, including machine language, assembly language, and high-level languages.

Recognize the historical development of computing devices and their evolution.

Distinguish between input and output devices.

Learn about the role of the operating system in managing computer resources.

---

Definitions:

Product Markets

Markets where final goods or services are offered to consumers, businesses, and the government.

Economic Decision Makers

Individuals or entities that make choices regarding the allocation of resources and the consumption of goods and services.

Profit

The financial gain obtained when the revenue generated from business activities exceeds the expenses, costs, and taxes involved in sustaining the activity.

Payment

The act of transferring money or its equivalent in return for goods, services, or fulfilling an obligation.