If a market experiences external economies,the long-run market supply

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External economies occur when firms in a market benefit from factors outside of their control, such as a well-developed transportation system or a skilled labor force. As a result, the cost of production decreases, and the market supply curve shifts to the right. This means that in the long run, firms can produce more output at a lower price, leading to a negatively sloped supply curve.

If a Market Experiences External Economies,the Long-Run Market Supply