In a perfectly competitive,decreasing-cost industry,the long-run market supply curve slopes downward.

Name: In a perfectly competitive,decreasing-cost industry,the long-run market supply curve slopes downward.
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Question

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In a perfectly competitive, decreasing-cost industry, as more firms enter the market in the long run, the cost of production decreases due to economies of scale. This results in a downward sloping long-run market supply curve.

In a Perfectly Competitive,decreasing-Cost Industry,the Long-Run Market Supply Curve Slopes