If the gadget industry is a constant cost industry,one would expect that the long run result of an increase in demand for gadget to include ____ firms and a(n)____ in price.

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Quizplus · Accepted Answer

In a constant cost industry, an increase in demand leads to more firms entering the market, but the price remains unchanged in the long run due to constant production costs.

If the Gadget Industry Is a Constant Cost Industry,one Would