Consider an Industry That Is in Long-Run Equilibrium

question 55

Multiple Choice

Consider an industry that is in long-run equilibrium. An increase in demand leads to a decrease in the price of the good. We know that this is

• A) a decreasing-cost industry.
• B) a constant cost industry.
• C) an increasing-cost industry.
• D) not a competitive industry.

---

Definitions:

Bestialist

An individual who engages in sexual acts with animals, also known as zoophilia.

DSM-5

The fifth edition of the Diagnostic and Statistical Manual of Mental Disorders, a standard classification of mental disorders used by mental health professionals.

Transvestism

The practice of dressing and acting in a style or manner traditionally associated with the opposite sex, primarily for purposes of emotional or sexual gratification.

Sex-Change Surgery

Medical procedures performed to alter a person's physical sex to match their gender identity.