A constant-cost industry is one _____
A) whose average costs are constant in the short run.
B) that experiences economies of scale throughout its scale of operation.
C) that experiences a stable demand in the long run.
D) whose cost curves do not change as new firms enter the market.
E) that faces increasing resource prices as new firms enter the market.
Correct Answer:
Verified
Q6: The relationship between price and quantity supplied
Q119: Which of the following is true at
Q120: Exhibit 8.10 Q121: The short-run equilibrium in a perfectly competitive Q122: If a perfectly competitive firm is in Q123: A decline in market demand in a Q126: Long-run equilibrium for a perfectly competitive firm Q127: If new firms enter a perfectly competitive Q128: Perfectly competitive firms will leave the industry Q129: In the long run,the entry of new
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