Which is most hikely to be a constant cost industry? Oa Widgits do not require specialized equipment or workers, and Widgits have been produced the sam way for a long time Ob Gadgets require a special metal, and the world is starting to run out of this metal Oc Gruffles require a special metal, and people have just started to use this metal. Now, engineers are quickly finding better ways to mine this metal Od. These are all equally likely to be constant cost industries Oe. None of these could be constant cost industries

Which is most hikely to be a constant cost industry? Oa Widgits do not require specialized equipment or workers, and Widgits have been produced the sam way for a long time Ob Gadgets require a special metal, and the world is starting to run out of this metal Oc Gruffles require a special metal, and people have just started to use this metal. Now, engineers are quickly finding better ways to mine this metal Od. These are all equally likely to be constant cost industries Oe. None of these could be constant cost industries

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.

Question

Which is most hkely to be a constant cost industry?
O a Widgits do not require specialized equipment or workers, and Widgits have been produced the same
way for a long time
O b. Gadgets require a special metal, and the world is starting to run out of this metal
Oc Gruffles require a special metal, and people have just started to use this metal. Now, engineers are
quickly finding better ways to mine this metal.
Od. These are all equally likely to be constant cost industries
Oe. None of these could be constant cost industries
In Canada, here is the market for Woogets
Quantity Demanded- 300 - P
Quantity Supplied = 2P
The world price is 50, and Canadians can buy and sell as much as they want at this price. What is consumer
surplus in Canada, if there is completely open trode? Write the answer as a number. For example, if you think
the answer is 100,971, write 100971

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Help answer point A. Building Construction