Heterogeneous Inputs in a Perfectly Competitive Market Will Cause the Industry

question 73

Multiple Choice

Heterogeneous inputs in a perfectly competitive market will cause the industry to face ________ costs because as the firm produces a larger quantity, it is forced to use ________ productive inputs.

• A) increasing; less
• B) decreasing; less
• C) increasing; more
• D) decreasing; more

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Definitions:

Colonial Government

The administration and governance system established in a colony by a foreign ruling power.

Contagious Diseases

Illnesses caused by pathogens such as bacteria, viruses, fungi, or parasites that can be transmitted from one person to another.

Native Americans

Indigenous peoples of the Americas, including groups and tribes with diverse cultures, who were the original inhabitants before European colonization.

African Slaves

Individuals from Africa who were forcibly taken from their homeland and sold into slavery, primarily in the Americas, where they were exploited for labor.