Figure 9-10 -In Figure 9-10, the Movement from Points a to B

question 153

Multiple Choice

Figure 9-10
-In Figure 9-10, the movement from points A to B to C can best be explained by which of the following factors?

• A) a decrease in demand, followed by the entry of new firms and an expansion in supply in a constant cost industry.
• B) an increase in demand, followed by the entry of new firms and an expansion in supply in an increasing cost industry.
• C) a decrease in demand, followed by the exit of firms and a decline in supply in an increasing cost industry.
• D) an increase in demand, followed by the exit of firms and a decline in supply in a constant cost industry.

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Definitions:

Legislative Leadership

Individuals or groups within a legislative body who hold positions of authority and guide the formulation, debate, and passage of laws.

Decision

The choice made from two or more alternatives in a situation, typically after a process of evaluation and deliberation.

Day-To-Day Operations

The routine activities that a business or organization undertakes daily to run smoothly and efficiently.

Management

The process of dealing with or controlling things or people, often within an organizational setting.