Primary industries are generally characterized by:
A)long-run average cost curves that become positively sloped at relatively low levels of output
B)production techniques using a high degree of specialization
C)decreasing average costs as production rises
D)assembly-line techniques
E)a significant range of production with constant returns to scale

Question

Quizplus · Accepted Answer

Primary industries often face increasing costs at low levels of output due to limited economies of scale and resource constraints, leading to positively sloped long-run average cost curves.

Primary Industries Are Generally Characterized By