Which of the following is NOT an example of a constant cost industry?

Question

Quizplus · Accepted Answer

In a constant cost industry, the entry or exit of firms does not affect the input prices because the industry's demand for inputs is small relative to the total market supply of those inputs. Tech inputs such as microchips are not an example of a constant cost industry because the industry is characterized by high research and development costs, economies of scale, and potential for significant changes in technology, which can affect costs as the industry expands or contracts. Fast-food restaurants, agricultural products, and bagged ice are more likely to maintain constant costs with industry scale changes, as their inputs are relatively simple, widely available, and not subject to the same level of technological disruption or scale economies.

Which of the Following Is NOT an Example of a Constant