If an industry's long-run per-unit costs increase as its output increases then
A. the firm is most likely a constant-cost industry.
B. the firm is most likely an increasing-cost industry.
C. the firm's long-run economic profits must be greater than zero.
D. the firm is most likely a decreasing-cost industry.
Answer: B
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Marginal revenue
a. Is the additional revenue incurred by selling one more unit b. Is the total revenue incurred by selling one more unit c. Is the total revenue incurred by selling all the firm's output d. Is the difference between total revenue and total costs
Which firm is not dealing with adverse selection
a. a manufacturer requires a 90 day probationary period for new employees b. a temporary clerical agency hires without verifying typing skills c. a manufacturer requires suppliers to be ISO 900 . certified d. Smokers get the worse life insurance rates as non-smokers