As the electronic components industry expands, the salaries paid to electrical engineers rise in response to higher demand. We can conclude that the electronic components industry is:
a. a constant-cost industry.
b. an increasing-cost industry.
c. a decreasing-cost industry.
d. a marginal-cost industry.
Question 2
Utility is:
a. easily measured, because all people derive the same utility from consumption.
b. easily measured, because it is an objective concept.
c. easily measured, because it is a subjective concept.
d. hard to measure, because it is a subjective concept.
e. hard to measure, because it is an objective concept.
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