If an Industry Is Characterized by Universal Constant Returns to Scale

question 19

Multiple Choice

If an industry is characterized by universal constant returns to scale:

• A)then natural monopoly is inevitable.
• B)perfect competition should survive.
• C)firms should be extremely small.
• D)no prediction can be made about the size of firms in an industry.

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Definitions:

Temporal Lobe

A region of the brain located beneath the lateral fissure on both cerebral hemispheres, involved in processing auditory information and encoding memory.

Lateral Fissure

A deep groove in the brain that separates the temporal lobe from the frontal and parietal lobes.

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A condition characterized by low levels of melatonin, a hormone that regulates sleep-wake cycles, leading to sleep disturbances.

Insomnia

A sleep disorder characterized by difficulty falling and/or staying asleep, affecting physical and mental health.