A Constant-Cost Industry Is Distinguished by the Fact That

question 111

Multiple Choice

A constant-cost industry is distinguished by the fact that

• A)firms' long-run average cost curves are horizontal
• B)firms' short-run marginal cost curves are horizontal
• C)firms' short-run average total costs are horizontal
• D)the short-run industry supply curve is perfectly elastic
• E)the long-run industry supply curve is perfectly elastic

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Definitions:

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The measure of a person's cognitive abilities and intellectual potential based on standardized tests.

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A program in the United States that provides comprehensive early childhood education, health, nutrition, and parent involvement services to low-income children and their families.

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