If the Technology Associated with Producing Fiber-Optic Cable Continues to Advance,over

question 96

Multiple Choice

If the technology associated with producing fiber-optic cable continues to advance,over time the cost of producing fiber-optic cable will

• A) decrease, firms that use the new technology will make an economic profit, and in the long run new firms will enter the market.
• B) decrease, firms that use the new technology will incur an economic loss, and in the long run some firms will exit the industry.
• C) increase, firms that use the new technology will make an economic profit, and in the long run new firms will enter the market.
• D) increase, firms that use the new technology will incur an economic loss, and in the long run some firms will exit the industry.
• E) decrease, firms that do not use the new technology will make an economic profit, and in the long run new firms will enter the market.

Identify the key drivers of revenue for businesses.

Distinguish between different types of costs and their impact on pricing strategies.

Comprehend the role of pricing strategies in achieving business objectives.

Recognize the significance of fair pricing and its perception among businesses and consumers.

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Definitions:

Government Intervention

Refers to the actions taken by a government to influence or directly regulate various aspects of its economy, social affairs, or public policy.

Workplace Governance

The system by which workplaces are directed and controlled, focusing on the relationship between management, the workforce, and other stakeholders.

Labor Market

The supply and demand dynamics of the workforce, where employers seek to hire labor and workers seek employment, influenced by factors like wages, skills, and economic conditions.

Labor Markets

The supply and demand dynamics of labor, where employers seek to hire workers and workers seek employment, influenced by factors like wages, skills, and economic conditions.