An Automobile Manufacturer Increased the Total Number of Cars Produced

question 27

Multiple Choice

An automobile manufacturer increased the total number of cars produced while keeping the production costs the same. The manufacturer ________.

• A) increased its equity
• B) increased its efficiency
• C) increased its effectiveness
• D) increased its effort

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Definitions:

CPI

Consumer Price Index, a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care.

Structural Steel Beams

Steel shapes used in construction that are designed to bear heavy loads and form the skeleton of buildings and bridges.

Consumer Price Index

An index measuring the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

Competitive

A market situation wherein there are many sellers and buyers, leading to prices that reflect supply and demand.