If There Are Constant Returns to Scale in an Industry

question 13

True/False

If there are constant returns to scale in an industry, then in competitive equilibrium, profits in that industry must necessarily be zero.

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Definitions:

Sojourner Truth

An African American abolitionist and women's rights activist renowned for her oratory skills and her famous "Ain't I a Woman?" speech.

Ohio Institution

Likely refers to a specific organization or facility in Ohio, but without specific context, it's too broad to define accurately. NO.

Abolitionist

An individual who advocates for or supports the elimination of slavery.

Black Students

Refers to African American students, highlighting their educational experiences and challenges in a system often marred by racial disparities and obstacles to equal opportunities.