Chat with AI
Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111 Exercise 32
Key Concept: Decreasing-Cost Industry
Assume the short-run average total cost for a perfectly competitive industry decreases as the output of the industry expands. In the long run, the industry supply curve will
A) have a positive slope.
B) have a negative slope.
C) be perfectly horizontal.
D) be perfectly vertical.
Causation Chain Game
Long-Run Supply in Decreasing-Cost Industry-Exhibit 12
Assume the short-run average total cost for a perfectly competitive industry decreases as the output of the industry expands. In the long run, the industry supply curve will
A) have a positive slope.
B) have a negative slope.
C) be perfectly horizontal.
D) be perfectly vertical.
Causation Chain Game
Long-Run Supply in Decreasing-Cost Industry-Exhibit 12
Explanation
Verified
Verified
Perfect competitive industry consists of...
Economics for Today 9th Edition by Irvin Tucker
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
