In a Constant Cost Industry

question 7

Multiple Choice

In a constant cost industry:

• A)price may be greater than, less than, or equal to Average Cost.
• B)the firm's long run supply curve is horizontal.
• C)price is determined by a Walrasian auctioneer.
• D)the efficient scale of production increases with time.

---

Definitions:

Aminophylline

A drug combination that relaxes muscles in the lungs and chest to make breathing easier, used in treating asthma and other airway conditions.

Asthma

A chronic inflammatory disease of the airways in the lungs, characterized by recurrent episodes of wheezing, breathlessness, chest tightness, and coughing.

Infusion Rate

The speed at which liquids, especially drugs or nutrients, are administered intravenously.

Drug Y

A placeholder name for a hypothetical or unspecified medication used in discussions or examples.