Assume There Is an Increase in Demand in a Perfectly

question 72

Multiple Choice

Assume there is an increase in demand in a perfectly competitive market that was initially in long-run equilibrium.Which of the following statements is false?

• A)Consumers have shown that they now consider the good to be more valuable.
• B)In the short run, profits will be lower than normal.
• C)Resources from other industries will be attracted into the market.
• D)Over time, the market supply curve will shift right.

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Definitions:

Corporate Culture

The collective values, beliefs, and principles of an organization that influence its behaviors and operations.

CSR Program

Corporate Social Responsibility Program; initiatives a company undertakes to manage its effects on social, environmental, and economic well-being.

Recruitment

The process of identifying, attracting, and hiring suitable candidates for jobs within an organization.

Organizational Clarity

The extent to which an organization's goals, roles, and responsibilities are clearly defined and understood by its members.