A Decrease in the Price the Firm Receives for Its

question 90

Multiple Choice

A decrease in the price the firm receives for its output will cause the firm to:

• A)expand output and earn smaller profits.
• B)cut wages and payments to factors of production.
• C)leave output unchanged and earn smaller profits.
• D)reduce output and earn smaller profits or larger losses.

---

Definitions:

University

An educational and research entity that grants academic titles in several fields of study.

Voluntary Response Sampling

A sampling method where participants decide for themselves whether to be included in the study, often leading to bias.

Utility Rates

The prices charged for essential public services such as electricity, gas, water, and sewage.

Phone-in Survey

A research method where participants provide their responses or opinions over a phone call, commonly used for collecting data from a wide geographical area.