In the long run, when price is greater than average total cost, some firms in a competitive market will choose to enter the market

A constant-cost industry is an industry in which

A) average costs fall as the industry expands output. B) input prices rise at a constant rate as firms in the industry use more inputs. C) average costs rise as the industry expands output. D) average costs remain constant as the industry expands output.

Which of the following would shift the production function downward?

a. An improvement in technology b. A decrease in the interest rate c. An increase in number of workers d. An increase in the stock of human capital e. A decrease in the stock of physical capital