Which of the Following Events Must Result in a Higher

question 125

Multiple Choice

Which of the following events must result in a higher price in the market for cigars?

• A)Demand for cigars increases,and supply of cigars decreases.
• B)Demand for cigars and supply of cigars both decrease.
• C)Demand for cigars decreases,and supply of cigars increases.
• D)Demand for cigars and supply of cigars both increase

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Definitions:

Specialization

The process of focusing on and becoming expert in a specific area of knowledge or activity.

Differentiation

The process of identifying and emphasizing the unique characteristics or features of a person, product, or organization.

Integration

The process of combining or coordinating separate elements or groups into a unified whole, often seen in organizational, social, or technological contexts.

Horizontal Differentiation

A structural feature of an organization that involves the division of labor and the specialization of tasks horizontally across departments.