In a constant cost industry, a decrease in price causes
A) some firms to exit the industry.
B) quantity supplied to remain constant.
C) some firms to enter the industry.
D) price controls.
Correct Answer:
Verified
Q208: In a constant cost industry, inputs prices
Q209: Recall the Application about the demand and
Q210: A constant cost industry has an infinitely
Q211: A constant cost industry is one in
Q212: The long-run supply curve is upward sloping
Q213: What happens in the short run and
Q215: Explain why perfectly competitive firms make zero
Q216: A constant cost industry is one in
Q217: Large industries that employ most of the
Q218: Consider a perfectly competitive market. What do
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents