Answer to Question #52936 in Microeconomics for Yana

Question #52936
Multiple choice 1.Suppose that, in the long run, the price of feature films rises as the movie production industry expands. We can conclude that movie production is a(n): a. increasing - cost industry. b. constant - cost industry. c. decreasing - cost industry. d. marginal - cost industry. 2. As the electronic components industry expands, the salaries paid to electrical engineers rise in response to higher demand. We can conclude that the electronic components industry is: a. a constant-cost industry. b. an increasing-cost industry. c. a decreasing-cost industry. d. a marginal-cost industry.
1
Expert's answer
2015-06-26T00:00:39-0400
1. Suppose that, in the long run, the price of feature films rises as the movie production industry expands. We can conclude that movie production is a(n):
a. increasing - cost industry.
2. As the electronic components industry expands, the salaries paid to electrical engineers rise in response to higher demand. We can conclude that the electronic components industry is:
b. an increasing-cost industry.

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