A constant-cost industry is one in which
A)resource prices fall as output is increased.
B)resource prices rise as output is increased.
C)resource prices remain unchanged as output is increased.
D)small and large levels of output entail the same total costs.

Question

Quizplus · Accepted Answer

In a constant-cost industry, resource prices remain unchanged as output is increased, meaning the cost of producing additional units does not change as the scale of production changes.

A Constant-Cost Industry Is One in Which