In a Constant Cost Industry

question 78

Multiple Choice

In a constant cost industry,

• A) a natural monopoly is likely to occur.
• B) total cost is the same, no matter how much a firm produces.
• C) the long-run supply curve will be perfectly elastic.
• D) entry of new firms in the industry will lead to a reduction in the cost of inputs.

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Definitions:

Ascending Colon

The first section of the colon which ascends from the cecum (the beginning of the large intestine) on the right side of the abdomen, absorbing fluids and salts as digested food passes through.

Colostomy

A surgical procedure that creates an opening in the abdominal wall for waste to exit the body, bypassing a diseased or damaged part of the lower digestive tract.

Skin Barrier

Refers to the outermost layer of the skin that protects against environmental contaminants, pathogens, and prevents excessive water loss from the body.

Peristomal Skin

The skin surrounding a stoma, which is an opening created surgically to allow waste to exit the body.