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(Figure: Determining Industry Cost Characteristics) Short-Run and Long-Run Supply Curves

Question 193

Multiple Choice

(Figure: Determining Industry Cost Characteristics) Short-run and long-run supply curves with short-run market equilibrium at points A and B are shown in the graph. We can conclude that the industry in the graph is a(n)
(Figure: Determining Industry Cost Characteristics)  Short-run and long-run supply curves with short-run market equilibrium at points A and B are shown in the graph. We can conclude that the industry in the graph is a(n)    A)  increasing cost industry. B)  decreasing cost industry. C)  constant cost industry. D)  market in long-term disequilibrium.


A) increasing cost industry.
B) decreasing cost industry.
C) constant cost industry.
D) market in long-term disequilibrium.

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