An industry whose total output can be increased without a change in long-run per-unit costs is a(n)

Question

Quizplus · Accepted Answer

In a constant-cost industry, as output increases, the per-unit costs remain constant in the long run. This is because the industry can obtain all the necessary inputs at the same price without affecting the market supply or demand for these inputs. Therefore, firms can expand their output without facing increased costs, which allows them to maintain the same level of profitability.

An Industry Whose Total Output Can Be Increased Without a Change