What must be true about input costs as industry output expands for a constant-cost industry?What...

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What must be true about input costs as industry output expands for a constant-cost industry?What must be true about input costs as industry expands for an increasing-cost industry?

David · Accepted Answer

Q: What must be true about input costs as industry output expands for a constant-cost industry? 
Answer: A constant cost industry is an industry where the average cost of production remains 
the same even with increase in output. In other words,

What must be true about input costs as industry output expands for a constant-cost industry? What must be true about input costs as industry expands for an increasing-cost industry?

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