Describe the supply curve of a constant cost industry.
A) upward sloping
B) flat
C) downward sloping
D) downward sloping, then upward sloping
Correct Answer:
Verified
Q145: Table: Constant Cost Industries Q146: The oil industry is an increasing cost Q147: In a competitive, constant cost industry: Q148: Why do technology firms cluster in Silicon Q149: Suppose there is a large and permanent Q151: Use the following to answer questions: Q152: Which of the following is NOT an Q153: In a decreasing industry: Q154: In an increasing cost industry: Q155: Why is it cheaper to make carpets
A) there
Figure: Two-Firm
A) cost rises as
A) above-normal profits
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents