Which of the following is true about increasing cost industries?
A) They use a large portion of available specialized input resources in production.
B) In order for industry output to expand, the prices of the specialized inputs will increase.
C) Expansion of industry output leads to a higher equilibrium price in the long run.
D) All of the above are generally true of increasing cost industries.
Correct Answer:
Verified
Q112: Which of the following is true for
Q113: Extractive industries such as farming,mining,or lumbering typically:
A)
Q114: Exhibit 12-9 Q115: In long-run perfectly competitive equilibrium: Q116: Exhibit 12-8 The long-run total cost schedule Q118: Which of the following is most likely
A) all firms
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