A Constant-Cost Industry Is Distinguished by the Fact That

question 111

Multiple Choice

A constant-cost industry is distinguished by the fact that

• A)firms' long-run average cost curves are horizontal
• B)firms' short-run marginal cost curves are horizontal
• C)firms' short-run average total costs are horizontal
• D)the short-run industry supply curve is perfectly elastic
• E)the long-run industry supply curve is perfectly elastic

---

Definitions:

Relational Transparency

The degree to which leaders openly share their true thoughts and feelings with followers, fostering an atmosphere of trust and authenticity in relationships.

Balanced Processing

An individual's ability to objectively analyze and evaluate information, opinions, and perspectives before making a decision, ensuring fairness and reducing bias.

Leadership

The ability to guide, influence, or direct a group towards the achievement of goals.

Ethical Leadership

A leadership style that is guided by respect for ethical beliefs and values, and for the dignity and rights of others, promoting integrity and fairness.