Which Statement About the Computer Chip Market Is TRUE

question 208

Multiple Choice

Which statement about the computer chip market is TRUE?

• A) An increase in productivity shifted the supply curve to the left, driving up the price.
• B) Computer chip demand is estimated to be unit elastic, which explains why the market has not expanded as production technology has improved.
• C) Productivity increases in computer chips caused revenues to increase over time because the demand for computer chips is elastic.
• D) There are limited uses for computer chips so demand is inelastic.

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Definitions:

Apologizing

Expressing regret or remorse for an action, admitting wrongdoing, and seeking forgiveness.

Corporate Culture

The shared values, beliefs, attitudes, and standards that characterize members of an organization and define its nature.

Severity

The intensity or seriousness of a situation, condition, or issue, often indicating the level of urgency or danger associated with it.

Terminated

Brought to an end or concluded, often referring to the cessation of employment or the conclusion of an agreement.