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Assume That the Tuna Fishing Industry Is Perfectly Competitive

Question 222

Multiple Choice

Assume that the tuna fishing industry is perfectly competitive.Which of the following best characterises the industry if, as demand for tuna increases, fishing boats have to go farther into the ocean to harvest tuna?


A) a constant-cost industry
B) an increasing-cost industry
C) a decreasing-cost industry
D) a fixed-cost industry

Correct Answer:

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