The long-run supply curve for a competitive, decreasing-cost industry is downward-sloping.

Name: The long-run supply curve for a competitive, decreasing-cost industry is downward-sloping.
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In a decreasing-cost industry, as output increases, the costs of production for firms decrease, leading to a downward-sloping long-run supply curve. This is because, in such industries, expansion leads to efficiencies and cost reductions that can be passed on in the form of lower prices.

The Long-Run Supply Curve for a Competitive, Decreasing-Cost Industry Is