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A Constant-Cost Industry Is Distinguished by the Fact That

Question 111

Multiple Choice

A constant-cost industry is distinguished by the fact that


A) firms' long-run average cost curves are horizontal
B) firms' short-run marginal cost curves are horizontal
C) firms' short-run average total costs are horizontal
D) the short-run industry supply curve is perfectly elastic
E) the long-run industry supply curve is perfectly elastic

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