A Constant Cost Industry Is One in Which

question 111

Multiple Choice

A constant cost industry is one in which:

• A) an increase in overall industry output does not lead to an increase in overall industry costs.
• B) costs are constant across all firms in the industry.
• C) market price is always equal to marginal cost in the industry.
• D) there are only a limited number of suppliers, all with equal costs of production.

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