Which of the Following Is a Long-Run Adjustment

question 33

Multiple Choice

Which of the following is a long-run adjustment?

• A) A firm lays off two workers.
• B) Two firms exit the asbestos removal industry.
• C) A manufacturer increases its purchase of raw materials.
• D) A farmer buys twice her usual amount of herbicide.

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Definitions:

Commission

A form of payment to an employee or agent, typically a percentage of the value of the goods or services they have sold.

Level of Intangibility

The degree to which a product or service lacks physical substance, impacting how it is marketed and perceived by consumers.

Designer Dress

A high-fashion garment created by a renowned fashion designer or fashion house.

Cat Food

A type of pet food specifically formulated to meet the nutritional needs of cats, available in dry, wet, and semi-moist forms.