Everything Else Held Constant,a Decrease in the Cost of Production

question 52

Multiple Choice

Everything else held constant,a decrease in the cost of production ________ aggregate ________.

• A)increases;demand
• B)decreases;demand
• C)increases;supply
• D)decreases;supply

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Definitions:

Customer Group

A segmentation of customers based on shared characteristics, behaviors, or needs, often targeted with specific marketing strategies.

R&D

Research and Development, which involves investigative activities that a business chooses to conduct with the intention of making a discovery that can lead to the development of new products or procedures.

Product Mix

The complete range of products that a company offers for sale, including variations in product lines, sizes, flavors, and other characteristics.

Product Lines

A group of related products offered by a single company that serve a similar customer segment or have been developed from the same technology.