If the Long-Run Supply Curve Is Horizontal, We Know That

question 62

Multiple Choice

If the long-run supply curve is horizontal, we know that this is

• A) a decreasing-cost industry.
• B) a constant-cost industry.
• C) an increasing-cost industry.
• D) a situations in which some input prices change as firms enter and exit the industry.

---

Definitions:

Therapy

A treatment intended to relieve or heal a disorder, often involving psychological techniques.

Storming

Describes a stage in group development where members express conflicting opinions, challenge group goals, and resist control by group leaders, often leading to tension.

Group Development

The phases that a group goes through from formation to termination, typically including forming, storming, norming, performing, and adjourning stages.

Group Interdependencies

The mutual reliance among members of a group, where each member's actions affect and are affected by the actions of other members.