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.

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Definitions:

MIT Technology Review

A media company owned by the Massachusetts Institute of Technology (MIT) that publishes articles and analyses on emerging technologies and their impacts on society and business.

Homo

A genus of primates that includes modern humans (Homo sapiens) and several extinct species.

MIS Department

Stands for Management Information Systems Department; it's a division within an organization that handles information technology services, especially the study and application of IT in business operations.

Strategic IS

Information systems that are developed and implemented in alignment with a business's strategic goals to gain competitive advantages.