Multiple Choice
Which of the following is NOT a characteristic of a constant cost competitive industry? As the industry expands output in the long run,
A) the equilibrium price of the product remains constant in the long run.
B) input prices remain constant.
C) the cost of production remains constant.
D) the number of firms remain constant.
E) none of the above
Correct Answer:

Verified
Correct Answer:
Verified
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