If an Industry's Long-Run Per-Unit Costs Are Constant as Its

question 44

Multiple Choice

If an industry's long-run per-unit costs are constant as its output increases then

• A) the firm's long-run economic profits must be greater than zero.
• B) the firm is most likely a decreasing-cost industry.
• C) the firm is most likely an increasing-cost industry.
• D) the firm is most likely a constant-cost industry.

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Definitions:

BPR

Business Process Reengineering, a strategy for making an organization's workflows more efficient and effective.

Interdependencies

Mutual dependencies between parts, actions, or entities, where changes in one area may produce outcomes in another, emphasizing the interconnectedness of components.

Central Repository

A centralized database or storage location where data is stored and managed, often used in software development for version control or in data management.

Unified Approach

A method or strategy that combines various elements or processes into a cohesive and coordinated whole.