An industry with a horizontal long-run supply curve is called a(n) ________ industry.
A) constant-cost
B) decreasing-cost
C) increasing-cost
D) decreasing-profit

Question

Quizplus · Accepted Answer

An industry with a horizontal long-run supply curve is called a constant-cost industry. This means that as the industry expands, the input prices remain constant, leading to constant costs of production even as output increases.

An Industry with a Horizontal Long-Run Supply Curve Is Called