If an industry is a constant-cost industry,_____
A) the prices of its inputs increase even when output remains constant.
B) it uses the same amount of inputs even at higher levels of output.
C) the prices of its inputs rise at a constant rate as it uses more inputs.
D) the prices of its inputs remain the same as the number of firms increases.
E) firms in the industry experience economies of scale throughout their scales of operation.
Correct Answer:
Verified
Q155: Exhibit 8.12 Q156: Suppose each firm's long-run average cost of Q157: Suppose a perfectly competitive,increasing-cost industry is in Q158: Exhibit 8.11 Q159: Suppose a perfectly competitive,increasing-cost industry is in Q161: Which of the following is true of Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
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