Suppose RioTintoAlcan is considering the construction of a new aluminum smelter in Northern Quebec, the operation of which requires a great deal of electricity. Suppose also that the price of electricity is predicted to rise significantly in the near future. As a result, the firm decides to build a plant using existing technology that is more expensive but uses less electricity per tonne of aluminum produced. This behavior is an example of

a.the long-run principle of substitution.

b.

short-run profit maximization.

c.short-run cost minimization.

d.

innovation away from changes in factor prices.

e.long-run economies of scale.