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Compare and contrast a constant cost, increasing cost and decreasing cost industries.

Compare and contrast a constant cost, increasing cost and decreasing cost industries.

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Answer: There are different types of industries are :

  • Increasing cost industry : An industry in which expansion through the entry of new firms has been entered raises the price of the firm in the industry must pay for the resources and therefore, increases the production cost at the higher and logical phase.
  • Constant cost industry : An industry in which entry and exist of the new firms have no effect on the price of the firms in an indusry and must pay for the resources and there is no effect on the product cost.
  • Decreasing cost industry : An industry in which increasing of the firms raised the price of the firm in an industry must pay for the resources and therefore, decreases production cost.
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