Author Question: If an industry is a constant-cost industry a. prices of its inputs increase even though output ... (Read 73 times)

burton19126 · **on:** Jun 30, 2018

If an industry is a constant-cost industry
a. prices of its inputs increase even though output remains constant
b. it uses inputs at higher levels of output
c. prices of its inputs rise at a constant rate as it uses more inputs
d. prices of its inputs remain constant as the number of firms increases
e. firms in the industry experience economies of scale

Question 2

Why would we be likely to observe dentists engaging in price discrimination?
a. Dental care is expensive.
b. All dentists are basically alike.
c. It is very important to exercise care in choosing a dentist.
d. It is nearly impossible to resell the services of a dentist.
e. The demand for dentists is very inelastic.