In an increasing cost industry:
A) above-normal profits are eliminated for all firms in the long run.
B) above-normal profits are eliminated for only some firms in the long run.
C) costs rise as output decreases.
D) profits rise as output decreases.

Question

Quizplus · Accepted Answer

The Answer of In an increasing cost industry:
A) above-normal profits are eliminated for all firms in the long run.
B) above-normal profits are eliminated for only some firms in the long run.
C) costs rise as output decreases.
D) profits rise as output decreases.

In an Increasing Cost Industry