One Explanation for the Existence of an Increasing-Cost Industry Is

question 196

Multiple Choice

One explanation for the existence of an increasing-cost industry is that

• A)increasing marginal returns to labor occur.
• B)firms produce beyond the point of minimum long-run average total costs.
• C)perfectly elastic long-run supply schedules are observed in the industry.
• D)as the industry expands, prices are bid up for some factors of production.

---

Definitions:

Holland's Model

A theory of career and vocational choice based upon personality types, suggesting that people are happiest in work environments that match their personal interests and characteristics.

Personality Types

Various classifications of human personalities based on psychological theories, often used to predict or understand behaviors and preferences.

Off-Campus Jobs

Employment opportunities located outside the educational institution, often sought by students.

Campus Career Center

A service provided by educational institutions to help students and alumni with career planning, job searches, and employment resources.