What characterizes a constant-cost industry and what causes it to be a constant-cost industry?
What will be an ideal response?
A constant cost industry is one with a horizontal long-run supply curve. The long-run supply curve is horizontal because input prices do not change with quantity produced.
Economics
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The GDP deflator measures
A) the quality of the goods and services in GDP. B) the quantity level. C) nominal GDP. D) real GDP. E) the price level.
Economics
Which of the following is an exogenous variable in the Three-Sector-Model?
a. Real Domestic GDP b. GDP price index c. Quantity of currency per time period d. Open market operations e. All of the above are exogenous
Economics