What is the shape of the long-run supply curve in a constant-cost industry?

Question

Quizplus · Accepted Answer

In a constant-cost industry, the input prices remain constant, meaning that the cost of production does not increase as the industry output expands. As a result, firms can enter or exit the market easily without affecting input prices or the cost of production. As a result, the long-run supply curve is perfectly elastic or horizontal, indicating that firms can produce any quantity of output at the same constant cost.

What Is the Shape of the Long-Run Supply Curve in a Constant-Cost