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:

People-centered

An approach or strategy that prioritizes the well-being, development, and involvement of individuals within an organization or society.

Jeffrey Pfeffer

A renowned professor of organizational behavior known for his extensive research and contributions in the fields of business management and human resources.

Proactive

Taking initiative by acting in advance of a future situation, rather than just reacting.

Reactive

A response or behavior that occurs as a direct result of stimuli or situations, often implying a lack of proactive planning or initiative.