If Goods a and B Are Complements, What Will Result

question 187

Multiple Choice

If goods A and B are complements, what will result from an increase in the price of A?

• A) more A and more B is sold
• B) more A and less B is sold
• C) less A and more B is sold
• D) less A and less B is sold

Differentiate between open and closed-ended questions and their applicability in the engagement phase.

Acknowledge that assessment is an ongoing activity in social work.

Understand effective methods for dealing with client resistance during assessments.

Learn about community assessment models and the importance of community participation.

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Definitions:

Learning Curve

Graph relating amount of inputs needed by a firm to produce each unit of output to its cumulative output.

Average Costs

The total cost of production divided by the quantity produced, indicating the cost per unit of product or service.

Tolerances

The permitted variations in measurements or physical characteristics in the manufacturing or production of goods.

Economies of Scale

Economies of scale describe the reduction in per-unit cost that a company benefits from as it scales up production. This cost benefit is due to the fixed costs spreading over a larger number of units.