Figure 9.18 -Refer to Figure 9.18.Which of the Following Statements Is True

question 178

Multiple Choice

Figure 9.18
-Refer to Figure 9.18.Which of the following statements is true?

• A) D_a represents the long-run demand curve facing a monopolistic competitor in a constant-cost industry while D_b depicts the demand curve in the short run.
• B) D_a represents the long-run demand curve facing a monopolistic competitor in a constant-cost industry while D_b depicts the long-run demand curve in an increasing-cost industry.
• C) D_a represents the long-run demand curve facing a perfect competitor while D_b depicts the long-run demand curve facing a monopolistic competitor.
• D) D_a represents the long-run supply curve in a perfectly competitive, constant-cost industry while D_b depicts the long-run demand curve facing a monopolistic competitor in a decreasing-cost industry.

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Definitions:

JIT Inventory

JIT inventory, or Just-In-Time inventory, is a management strategy that aligns raw-material orders from suppliers directly with production schedules to reduce stock levels.

Just in Time

The Just in Time (JIT) methodology is an inventory management strategy that aims to reduce waste and increase efficiency by receiving goods only as they are needed in the production process.

Suppliers

Entities or individuals that provide goods or services to other entities or individuals, typically within a business or manufacturing process.

Short-term Financing

Refers to the obtaining of loans or other monetary support for a period of typically less than one year, to address immediate financial needs.