Question: What will be the likely effect on output as a result of an increase in the demand for a product? a. Output will increase, and

What will be the likely effect on output as a result of an increase in the demand for a product? a. Output will increase, and the demand for the resources used to produce the product will rise. b. Output will increase, and the demand for the resources used to produce the product will fall. c. Output will increase, and the price of resources used to produce the product will increase if their supply is perfectly elastic. d. Output will decline, while the demand for the resources used to produce the product will remain constant

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