Examlex
Match each term with its corresponding description.
-groups of skeletal muscle fibers
Constant-Cost Industry
An industry where the cost of production does not change as the industry's output changes.
Increasing-Cost Industry
An industry in which costs per unit of output increase as the scale of output is increased due to factors such as shortages of resources or higher input costs.
Long-Run Equilibrium
A state in economics where all factors of production and outputs are variable, allowing for the adjustment to changes in demand, supply, and prices, resulting in a situation where firms earn normal profit.
Increasing Cost Industry
An industry in which costs of production increase as firms enter the market, often due to limited resources or factors of production becoming more expensive.
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