Which of the following is true for a constant cost industry?
A) It uses a relatively large share of available resource inputs.
B) It uses a relatively small share of available resource inputs.
C) Industry expansion will put upward pressure on wages and/or other input prices.
D) Both a. and c.
Correct Answer:
Verified
Q107: Exhibit 12-7 The figure shows the price,marginal
Q108: Exhibit 12-8 The long-run total cost schedule
Q109: Constant cost industries:
A) use large portions of
Q110: At the level of output where marginal
Q111: Exhibit 12-8 The long-run total cost schedule
Q113: Extractive industries such as farming,mining,or lumbering typically:
A)
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