Author Question: In a constant-cost industry, input prices remain constant as: a. the supply of inputs fluctuates. ... (Read 215 times)

jho37 · **on:** Jun 30, 2018

In a constant-cost industry, input prices remain constant as:
a. the supply of inputs fluctuates.
b. firms encounter diseconomies of scale.
c. workers become more experienced.
d. firms enter and exit the industry.

Question 2

A util:
a. can measure satisfaction with factual accuracy.
b. is not a valid concept.
c. applies to a good but not to a service.
d. is purely a fictitious measure of the satisfaction a consumer derives from a product.
e. can be used in place of money in some countries.