If the Costs of Production Do Not Increase as Output

question 176

Multiple Choice

If the costs of production do not increase as output increases in the long run in a perfectly competitive industry, then this is a

• A) constant-return-to-scale industry.
• B) constant-competitive industry.
• C) constant-cost industry.
• D) constant-price industry.

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Definitions:

Sensory Receptors

Specialized cells or structures that detect external or internal environment stimuli and convert them into electrical impulses.

Pacinian Corpuscle

A type of nerve ending in the skin that detects pressure and vibration.

Free Nerve Endings

Sensory nerve fibers that extend into the tissues and open on the surface or just below, responsible for sensing pain, temperature, and touch.

Sensory Receptor

Specialized cells or cell parts that detect external or internal stimuli and transmit signals to sensory neurons.