An increasing-cost industry is the result of
A) higher resource prices that occur as the industry expands.
B) a change in the industry's minimum efficient scale.
C) X-inefficiency.
D) the law of diminishing returns.
Correct Answer:
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Q22: A constant-cost industry is one in which
A)
Q25: When a purely competitive firm is in
Q29: Suppose losses cause industry X to contract
Q30: Suppose that an industry's long-run supply curve
Q31: A purely competitive firm is precluded from
Q33: Allocative efficiency is achieved when the production
Q35: If a purely competitive constant-cost industry is
Q37: An increasing-cost industry is associated with
A) a
Q37: Under what conditions would an increase in
Q38: A decreasing-cost industry is one in which
A)contraction
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