A constant cost industry is distinguished by the fact that
A. The long run industry supply curve is perfectly inelastic
B. The long run industry supply curve is perfectly elastic
C. average revenue is equal to zero
D. none of the above is correct
Answer:B
A constant cost industry is distinguished by the fact that
A. The long run industry supply curve is perfectly inelastic B. The long run industry supply curve is perfectly elastic C. average revenue is equal to zero D. none of the above is correct