A Constant-Cost Industry Is One in Which

question 375

Multiple Choice

A constant-cost industry is one in which

• A) output increases lead to productivity gains.
• B) the marginal product of labor is constant.
• C) there is no change in long-run per-unit costs, even as output varies.
• D) each firm has a horizontal long-run average cost curve.

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Definitions:

Immediate Feedback

Prompt response or input given to an individual or group shortly after performing a task, aimed at improving future performances.

Douglas McGregor

Douglas McGregor was a social psychologist whose work in the field of management and motivation theory led to the development of the X and Y theory, contrasting two different views of workforce motivation.

Human Side

The aspects of work or situations that pertain to the emotional, psychological, and social needs of individuals.

Cyber Loafing

The act of using the internet for non-work related activities during work hours, which can decrease productivity.