In a constant cost industry:

a. a natural monopoly is likely to occur.
b. total cost is the same, no matter how much a firm produces.
c. the long-run supply curve will be perfectly elastic.
d. entry of new firms in the industry will lead to a reduction in the cost of inputs.

c

Economics

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A) lowering foreign spending. B) inflation. C) increasing domestic spending. D) devaluing of the dollar in markets.

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Obstacles in achieving efficiency in a market include

A) public goods. B) the presence of an external cost or benefit. C) competition. D) Both answers A and C are correct. E) Both answers A and B are correct.

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