Suppose losses cause industry X to contract and, as a result, the prices of relevant inputs decline. Industry X is:
A. a constant-cost industry.
B. a decreasing-cost industry.
C. an increasing-cost industry.
D. encountering X-inefficiency.
Answer: C
Economics
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Major achievements of the Roosevelt administration in the field of conservation included all of the following except
a. protection of 150 acres of national forests. b. retention of rights to 75 million acres of mineral wealth. c. adoption of policies that would ultimately provide for construction of reservoirs and irrigation projects. d. protection of over 100 species of animals and birds, including the bald eagle.
Economics
The total fixed cost curve:
a. varies with the quantity of inputs used. b. decreases with output. c. increases with output. d. remains constant regardless of output.
Economics