In the Figure Above,if Price INCREASES from $40 to $60,an

question 74

Multiple Choice

In the figure above,if price INCREASES from $40 to $60,an arrow representing the PRICE effect

• A)will point upward.
• B)will point downward.
• C)will be longer than and in opposite direction of)the arrow representing the quantity effect.
• D)will be shorter than and in the opposite direction of)the arrow representing the quantity effect.
• E)both a and c

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Definitions:

SWOT Analysis

A strategic planning tool that helps organizations identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.

Just-In-Time Manufacturing

An inventory strategy companies use to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, reducing inventory costs.

SWOT Analysis

A strategic planning tool used to identify and understand the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.

Inventory Costs

Inventory costs are expenses related to holding and managing goods for sale, including storage, insurance, and loss from unsold items.