If, as a Perfectly Competitive Industry Expands, It Can Supply

question 107

Multiple Choice

If, as a perfectly competitive industry expands, it can supply larger quantities at the same long-run market price, it is

• A)a constant-cost industry.
• B)an increasing-cost industry.
• C)a decreasing-cost industry.
• D)a fixed-cost industry.

---

Definitions:

Transform Faulting

A type of strike-slip fault where tectonic plates slide past each other horizontally, often causing earthquakes.

Subducted Plate

A tectonic plate that is being forced downward into the mantle by another plate at a subduction zone.

Plate Boundary

The edges where two tectonic plates meet, which can result in earthquakes, volcanic activity, and the formation of mountain ranges.

Subducted Plate

The portion of a tectonic plate that is forced below another plate into the Earth's mantle at a convergent boundary.