An industry whose total output can be increased without a change in long-run per-unit costs is a(n)
A) increasing-cost industry.
B) constant-cost industry.
C) zero-cost industry.
D) decreasing-cost industry.
Answer: B
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Both new classical economists and monetarists disagree with Keynesians about the optimal degree of involvement of the government in determining the equilibrium level of real GDP
a. True b. False Indicate whether the statement is true or false
Which of the following justifies the federal government's role in antitrust enforcement?
A. Public goods and externalities. B. Market power. C. Inequity. D. Macro failure.
An increase in the equilibrium price of electricity can be caused by
A. A decrease in the demand for electricity. B. An increase in the supply of electricity. C. An increase in the quantity demanded of electricity. D. An increase in the demand for electricity.
Which theory states that for products where economies of scale are significant and that control a substantial amount of world demand, the first movers in an industry can gain a scale-based cost advantage NOT available to late entrants?
What will be an ideal response?