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Input prices rise as entry occurs in an constant-cost industry.

dwilliams11

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Input prices rise as entry occurs in an constant-cost industry.

Question 1.

For a perfectly competitive industry, diminishing marginal returns

▸ occur only in the short run.

▸ occur only in the long run.

▸ occur in both the short run and in the long run.

▸ Diminishing marginal returns do not occur in perfectly competitive industries.

Question 2.

Input prices rise as entry occurs in an constant-cost industry.

▸ true

▸ false

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

Read 68 times

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Antoinette12

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More solutions for this book are available here

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dwilliams11 Author

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You make an excellent tutor!

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