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Scenario 7-1
Etruscan Railing Company makes railing that is used in sports arenas, nursing home corridors,and many other places that are not as obvious. Its railing is moulded into bicycle racks. You may also see city governments using the railing to make walkways over ravines and creek banks safer for pedestrian traffic. Hospitals also use the railing in their physical therapy departments, to keep the lines straight in the hospital cafeteria, and to prevent patients from falling out of hospital beds.
-Refer to the scenario. Etruscan has experienced a strong increase in railing sales as a result of the growth of school football. Which type of demand is this increase for railings as a result of the need for new football stadiums?
Demand for Resources
The desire and willingness to purchase or acquire resources based on their contribution to production or utility.
Output Increases
A rise in the amount of goods or services produced by a company or economy.
Price-taker Firm
A company that has no control over the market price and must accept the prevailing market price for its products.
Short Run
A period in economics during which some factors of production are fixed, limiting the ability to fully adjust to market changes.
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