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If factor prices and factor quantities move in the same direction, we have

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Question:

If factor prices and factor quantities move in the same direction, we have

A.

a constant cost industry

B.

an increasing cost industry

C.

a decreasing cost industry

D.

any of the above.

Answer» b. an increasing cost industry

Note: The above multiple-choice question is for all general and Competitive Exams in India.