An Increasing-Cost Industry Is So Named Because of the Positive

question 38

Multiple Choice

An increasing-cost industry is so named because of the positive slope of which curve?

• A) Each firm's short-run average cost curve
• B) Each firm's short-run marginal cost curve
• C) Each firm's long-run average cost curve
• D) Each firm's long-run marginal cost curve
• E) The industry's long-run supply curve

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Definitions:

Suburbanism

Is a way of life outside city centres that is organized mainly around the needs of children and involves higher levels of conformity and sociability than life in the central city.

Outdoor Basketball

The playing of the basketball sport in outdoor courts, distinguished from indoor basketball by environmental and play conditions.

Downtown Core

The central business district of a city, characterized by high concentrations of retail, business, and entertainment facilities.

Gentrification

Is the process of middle-class and high-income people moving into rundown areas of the inner city and restoring them.