Which of the Following Statements Is True

question 42

Multiple Choice

Which of the following statements is true?

• A) Competitive firms will respond less to changes in output prices over the long run than they will over the short run because short-run marginal cost is lower than long-run marginal cost.
• B) Competitive firms will respond more to changes in output prices over the long run than they will over the short run because long-run marginal cost is lower than short-run marginal cost.
• C) Competitive firms will respond less to changes in output prices over the long run than they will over the short run because long-run marginal cost is lower than short-run marginal cost.
• D) Competitive firms will respond more to changes in output prices over the long run than they will over the short run because short-run marginal cost is lower than long-run marginal cost.

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Definitions:

Secondary Key

An attribute or set of attributes in a database table that helps further identify and sort records, but isn’t the primary means of record identification.

Foreign Key

A field in a database table that uniquely identifies a row in another table, creating a link between the two tables.

NewSQL Systems

A class of modern relational database management systems that seek to provide the scalability of NoSQL systems while maintaining the ACID guarantees of a traditional database system.

Autonomy

The right or condition of self-government, or in a more general sense, the capacity of an individual to make an informed, un-coerced decision.