If the long-run industry supply curve in a perfectly competitive market is horizontal, what will likely happen to input prices as industry output expands?

Name: If the long-run industry supply curve in a perfectly competitive market is horizontal, what will likely happen to input prices as industry output expands?
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Question

Quizplus · Accepted Answer

A horizontal long-run industry supply curve implies that input prices remain constant as industry output expands, indicating perfectly elastic supply of inputs or constant returns to scale.

If the Long-Run Industry Supply Curve in a Perfectly Competitive