If There Are Constant Returns to Scale in a Competitive

question 16

True/False

If there are constant returns to scale in a competitive industry, then the long-run industry supply curve for that industry is horizontal.

---

Definitions:

Organizational Cycles

The recurring patterns and phases of growth, change, and development that organizations experience over time.

Life Cycles

The various stages of development and growth that an organism or entity (e.g., a product, an organization) goes through from inception to termination or renewal.

Exploration

The process of seeking and discovering new information, experiences, or areas of knowledge.

Organic Structure

Organic structure in an organization is characterized by less formalization, more decentralization, and a flexible approach to tasks and roles, enhancing adaptability and communication among employees.