A Constant-Cost Industry Is an Industry in Which

question 112

Multiple Choice

A constant-cost industry is an industry in which

• A)average costs fall as the industry expands output.
• B)average costs rise as the industry expands output.
• C)average costs remain constant as the industry expands output.
• D)input prices rise at a constant rate as firms in the industry use more inputs.

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Definitions:

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Chronological Record

A recording or documentation arranged in the order of time when events occurred.