If the Expansion of Output in an Industry Leads to Unchanged

question 149

Multiple Choice

If the expansion of output in an industry leads to unchanged resource prices, the industry is most likely to be

• A) a decreasing cost industry.
• B) an increasing cost industry.
• C) a constant cost industry.
• D) an industry characterized by economies of scale.

---

Definitions:

Financial Aid

Financial assistance provided to students to help cover the cost of their education, which can come in the form of grants, scholarships, loans, and work-study programs.

Cohabitation

An arrangement in which a couple lives together in a committed romantic relationship but are not formally married.

Committed Romantic Relationship

A relationship marked by emotional and usually sexual fidelity, loyalty, and mutual support between partners.

Chronological Age

The actual age of a person measured in years from the date of birth, often used as a general indicator of development and aging.