A constant cost industry is one in which

Name: A constant cost industry is one in which
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Question

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In a constant cost industry, input prices do not change as output changes in the long run, ensuring that the cost of producing each unit remains the same. This means that the industry supply curve remains constant in the long run, and there is no tendency for prices to rise or fall. Supply elasticity and short-run supply curves are not necessarily related to constant costs.

A Constant Cost Industry Is One in Which