Which of the Following Is NOT an Example of an External

question 58

Multiple Choice

Which of the following is NOT an example of an external frustration?

• A) uncontrollability
• B) losses
• C) rejections
• D) delays

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Definitions:

Resource Prices

The costs associated with acquiring inputs needed for production, including raw materials, labor, and capital.

Decline

A decrease in the quantity, quality, or level of something over time.

Constant-Cost Industry

An industry in which the cost of production does not change as the industry's output changes.

Long-Run Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied over a period long enough for firms to enter or exit the market.