Question 6 of 136. How might an industry's costs change in the long run?a. Costsmaydecrease due toconstant returns to scale.economies of scale.diseconomies of scale.O re-economies of scale.b. Costs may increase becausean expanding industry bids up resource or input costs.profits can only be made in the long run.in the long run, price is always equal to average total cost.a39°FA D36 constant returns to scale.economies of scale.diseconomies of scale.O re-economies of scale.b. Costs may increase becausean expanding industry bids up resource or input costs.O profits can only be made in the long run.in the long run, price is always equal to average total cost.an expanding industry bids down resource or input costs.a(36

In popular usage, cost refers to the monetary worth of goods and services purchased by producers and…

Question b of 13 6. How might an industry's costs change in the long run? a. Costs may decrease due to constant returns to scale. economies of scale. diseconomies of scale. re-economies of scale. b. Costs may increase because an expanding industry bids up resource or input costs. profits can only be made in the long run. in the long run, price is always equal to average total cost.

Question b of 13 6. How might an industry's costs change in the long run? a. Costs may decrease due to constant returns to scale. economies of scale. diseconomies of scale. re-economies of scale. b. Costs may increase because an expanding industry bids up resource or input costs. profits can only be made in the long run. in the long run, price is always equal to average total cost.

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: The Cost Of Production

Section: Chapter Questions

Problem 10PA

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