A Constant-Cost Industry Is One in Which

question 375

Multiple Choice

A constant-cost industry is one in which

• A) output increases lead to productivity gains.
• B) the marginal product of labor is constant.
• C) there is no change in long-run per-unit costs, even as output varies.
• D) each firm has a horizontal long-run average cost curve.

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Definitions:

Predators

Animals that hunt, kill, and consume other organisms for food.

Invasive Species

Non-native organisms that spread rapidly in new environments, often causing harm to native species, human health, and economies.

Generalists

Organisms that have a broad niche and can thrive in a wide variety of environmental conditions and can make use of a variety of different resources.

Species Diversity

The variety and abundance of different species within a given area, contributing to the complexity and resilience of ecosystems.