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.

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Definitions:

Natural Selection

A process in evolution by which organisms that are better adapted to their environment tend to survive longer and transmit more of their genetic characteristics to succeeding generations.

Evolution

The process through which species of organisms undergo change over time through variations in hereditary traits and natural selection.

Humans

Members of the species Homo sapiens, characterized by their capacity for complex language, reasoning, and social organization.

Lonely Friends

Individuals who feel isolated or disconnected from others despite having friendships.