Economics · Microeconomics

If factor prices and factor quantities move in the same direction as industry output expands, it represents:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1A constant cost industry
2An increasing cost industry✓
3A decreasing cost industry
4None of these

Correct answer

An increasing cost industry

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If factor prices and factor quantities move in the same direction as industry output expands, it represents:

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If factor prices and factor quantities move in the same direction as industry output expands, it represents:

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