Refer to the information provided in Figure 9.6 below to answer the questions that follow. Figure 9.6
-Refer to Figure 9.6. The type of industry depicted in this situation is
A) an increasing-cost industry.
B) a decreasing-cost industry.
C) a constant-cost industry.
D) impossible to determine from this information.

Question

Refer to the information provided in Figure 9.6 below to answer the questions that follow.  Figure 9.6
-Refer to Figure 9.6. The type of industry depicted in this situation is
A) an increasing-cost industry. 
B) a decreasing-cost industry. 
C) a constant-cost industry. 
D) impossible to determine from this information.

Quizplus · Accepted Answer

The industry is an increasing-cost industry because the long-run average cost curve is upward sloping.

Refer to the Information Provided in Figure 9