Which of the Following Is True for a Constant Cost

question 250

Multiple Choice

Which of the following is true for a constant cost industry?

• A) The total cost of producing 500 units will be the same as the total cost of producing 250 units.
• B) If 100 units can be produced for $500, then 200 units can be produced for $1,000.
• C) The demand curve and, therefore, the unit price in the industry are constant.
• D) Firms in the industry will hold output constant if the price of the product increases.

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Definitions:

Cultural Intelligence

The ability to understand, respect, and effectively interact with people from diverse cultural backgrounds.

Diverse Body

Refers to an entity composed of varied elements, such as a group of individuals from different backgrounds.

Subconscious Mind

The part of the mind that is not currently in focal awareness but influences thoughts, feelings, and actions.

Temperament

The aspects of an individual's personality, such as introversion or extroversion, that are considered to be innate rather than learned.