Question

What determines actual long-run output in a constant-cost industry as distinguished from potential output? 

   What determines actual long-run output in a constant-cost industry as distinguished from potential output?
Intermediate Microeconomics
Intermediate Microeconomics
Robert W. Clower,… 1st Edition
Chapter 9, Problem 17 ↓

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A constant-cost industry is one in which the input prices (and hence the cost of production) do not change as the industry's output changes. This is typically due to the availability of inputs being large enough that increased demand does not lead to higher prices  Show more…

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