-Refer to the Graphs in the Exhibit

question 27

Multiple Choice

-Refer to the graphs in the exhibit.In period 2, which of the following would cause the aggregate supply curve to shift from AS to AS'?  

• A) an increase in resource prices, improved technology, or an extension of patent protection
• B) a decrease in resource prices, improved technology, or an extension of patent protection
• C) an appreciation of the dollar, higher inflation in Europe, or a decrease in resource prices
• D) a depreciation of the dollar, higher inflation in Asia, or improved technology

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Definitions:

Ideal Strategy

Refers to an optimal approach a business or individual could take to achieve their goals under the best possible circumstances or assumptions.

Defender Strategy

A business strategy focused on maintaining existing market share and defending against competitors through improvement in product quality, cost, and customer service.

Focus Strategy

The focus strategy is undertaken when an organization tries to target a specific segment of the marketplace for its products or services.

Market Segment

A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product and service needs.