A constant-cost industry is one in which

A) resource prices fall as output is increased.
B) resource prices rise as output is increased.
C) resource prices remain unchanged as output is increased.
D) small and large levels of output entail the same total costs.

Constant-cost Industry

An industry in which the costs of production, including inputs and labor, do not change as the overall industry output changes.

Resource Prices

The cost associated with acquiring the natural resources needed for production, such as minerals, timber, water, and land.

Output Increased

A situation where the production of goods or services in an economy rises.