One Explanation for the Existence of an Increasing-Cost Industry Is

question 41

Multiple Choice

One explanation for the existence of an increasing-cost industry is:

• A) increasing marginal returns to labor occur.
• B) firms produce beyond the point of minimum long-run average total costs.
• C) perfectly elastic long-run supply schedules are observed in the industry.
• D) as the industry expands,input prices are bid up for some factor of production.

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