In a Constant Cost Industry

question 78

Multiple Choice

In a constant cost industry,

• A) a natural monopoly is likely to occur.
• B) total cost is the same, no matter how much a firm produces.
• C) the long-run supply curve will be perfectly elastic.
• D) entry of new firms in the industry will lead to a reduction in the cost of inputs.

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Definitions:

Telepresence

Technology that allows a person to feel or appear as if they are present in a location other than their true location.

Nonverbal Signals

Forms of communication without words, such as gestures, facial expressions, and body language, that convey messages or emotions.

Parliamentary Procedure

A set of rules for conduct at meetings that allows everyone to be heard and to make decisions without confusion.

Business Etiquette

The set of manners and behaviors considered acceptable and professional in a business environment.