If an industry's long-run average total cost curve has a negative slope over an extended range of quantity (as shown on the diagram here), what is the most likely market structure for this industry? $ Long-run ATC Quantity The industry consists of firms of various sizes.

If an industry's long-run average total cost curve has a negative slope over an extended range of quantity (as shown on the diagram here), what is the most likely market structure for this industry? $ Long-run ATC Quantity The industry consists of firms of various sizes.

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter10: Monopolistic Competition And Oligopoly

Section: Chapter Questions

Problem 4QFR

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Question

If an industry's long-run average total cost curve has a negative slope over an
extended range of quantity (as shown on the diagram here), what is the most likely
market structure for this industry?
$
Long-run ATC
Quantity
The industry consists of firms of various sizes.
The industry consists of many small firms.
The industry is monopolistically competitive.
The industry is monopolistic.

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