A constant cost industry is one in which:
A. input prices do not change as output changes in the long -run.
B. supply is highly inelastic.
C. short-run supply is horizontal.
D. all of the above.
Answer:A
A constant cost industry is one in which:
A. input prices do not change as output changes in the long -run. B. supply is highly inelastic. C. short-run supply is horizontal. D. all of the above.