If demand is taken into account, firms that use cost-plus pricing can adjust price by
A) letting sales fall, but hold the markup constant if demand falls.
B) lowering markups on price-elastic goods and raising markups on price-inelastic goods.
C) letting sales rise, but hold the markup constant if demand rises.
D) raising markups on price-elastic goods and lowering markups on price-inelastic goods.
Question 2
Suppose a developing country receives more machinery and capital equipment as foreign entrepreneurs increase the amount of investment in the economy. As a result
A) the economy will move up along the long-run aggregate supply curve.
B) the long-run aggregate supply curve will shift to the left.
C) the long-run aggregate supply curve will shift to the right.
D) the economy will move down along the long-run aggregate supply curve.
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