If an industry experiences constant costs as industry output expands, the long-run industry supply curve will be:

Name: If an industry experiences constant costs as industry output expands, the long-run industry supply curve will be:
Brand: Quizplus
Rating: 4.8 (43 reviews)

Question

Quizplus · Accepted Answer

If the industry experiences constant costs as output expands, it implies that firms can increase production without experiencing higher costs per unit. Therefore, the long-run industry supply curve will be horizontal at the constant cost level.

If an Industry Experiences Constant Costs as Industry Output Expands