In a Constant-Cost Industry, Input Prices Remain Constant As

question 71

Multiple Choice

In a constant-cost industry, input prices remain constant as:

• A) the supply of inputs fluctuates.
• B) firms encounter diseconomies of scale.
• C) workers become more experienced.
• D) firms enter and exit the industry.

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Definitions:

Participation

involves the act of taking part in an activity or contributing to a group effort in a collaborative or decision-making process.

Employee Resistance

Opposition or pushback by workers against changes or policies introduced by management.

Socialization

The process by which individuals learn and adopt the norms, values, and behaviors appropriate to their society or organizational culture.

Ethnocentrism

Ethnocentrism is the belief in the inherent superiority of one's own ethnic group or culture over others.