Answered: The long-run supply curve for a…

The long-run supply curve for a competitive, decreasing cost industry is a) upward sloping b) downward sloping c) has a constant slope d) a,b, or c depending on the circumstance

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

ChapterP3: Market Structure

Section: Chapter Questions

Problem 3KC

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Question

Answer multiple choice

The long-run supply curve for a competitive, decreasing cost industry is
a) upward sloping
b) downward sloping
c) has a constant slope
d) a,b, or c depending on the circumstance

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In perfectly competitive markets, the market long-run supply curve is: downward sloping if the average costs for all firms fall as the industry expands downward sloping in quantity if there are diseconomies of scale always horizontal upward sloping for firms with large fixed cost none of the other answers are correct Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
TRUE OR FALSE? A decreasing cost industry has a long run supply curve that is upward sloping.
A short-run supply curve for a competitive firm is the same as the: Answers: A. Marginal revenue curve. B. Marginal cost curve. C. Average variable cost curve. D. Average total cost curve.
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