If the costs of production do not increase as output increases in the long run in a perfectly competitive industry, then this is a

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Quizplus · Accepted Answer

A constant-cost industry is one where the costs of production do not increase as output increases in the long run due to various factors such as readily available resources and technological advancements. This means that firms can produce more without incurring additional costs, leading to a horizontal supply curve and constant prices in the long run. The other options are not accurate descriptions of such an industry.

If the Costs of Production Do Not Increase as Output