If Expansion of an Industry's Output Causes a Downward Shift

question 133

Multiple Choice

If expansion of an industry's output causes a downward shift of firms' average total cost curves,

• A)each firm earns a long-run economic profit
• B)all of the following are correct
• C)there will be long-run economic profits
• D)it is a decreasing-cost industry
• E)it is an increasing-cost industry

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Definitions:

PERT Chart

A project management tool used to schedule, organize, and coordinate tasks within a project.

Delayed

Occurring later than expected or intended; postponed.

Planned Deadlines

Specified dates by which tasks or projects are targeted to be completed.

Additional Funds

Extra money made available for a particular purpose.