Long run industry supply curve in case of decreasing-cost industry.
Answer to Problem 6MCQ
(d) Downward-sloping.
Explanation of Solution
In a
Introduction:
A decreasing cost industry means lowering the cost structure of a firm as the industry expands. As more output is produced cost decreases which are also called economies of scale.
Chapter 60 Solutions
Krugman's Economics For The Ap® Course
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