In an industry, when the cost curve of a firm is upward sloping at low levels of output relative to the market, it implies:
A)the industry is characterized by constant returns to scale.
B)the industry has a high degree of competition.
C)not many firms can operate together in this industry.
D)the firm can charge a price lower than competition and still cover its costs.

Question

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The Answer of In an industry, when the cost curve of a firm is upward sloping at low levels of output relative to the market, it implies:
A)the industry is characterized by constant returns to scale.
B)the industry has a high degree of competition.
C)not many firms can operate together in this industry.
D)the firm can charge a price lower than competition and still cover its costs.

In an Industry, When the Cost Curve of a Firm