Which of the Following Is the Best Example of a Short-Run

question 183

Multiple Choice

Which of the following is the best example of a short-run adjustment?

• A) A local bakery purchases another commercial oven as part of its capacity expansion.
• B) Your local Wal-Mart hires two more associates.
• C) Smith University completed negotiations to acquire a large piece of land to build its new library.
• D) Toyota builds a new assembly plant in Texas.

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Definitions:

Rosa Luxemburg

A Polish Marxist theorist, philosopher, economist, anti-war activist, and revolutionary socialist.

Social Contract

A theoretical agreement within society where individuals consent to surrender some freedoms for the protection and benefit of the community as a whole.

Rousseau

Jean-Jacques Rousseau, an influential 18th-century philosopher known for his ideas on education, society, and government, emphasizing natural human goodness and freedom.

Free Individuals

Persons who possess autonomy and the capacity to make choices unconstrained by external coercion or limitations, typically within the bounds of societal laws and norms.