When entry of new firms decreases input prices in an industry,it is a(n)

Name: When entry of new firms decreases input prices in an industry,it is a(n)
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Question

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When entry of new firms decreases input prices, the industry experiences lower costs of production as a result. This leads to a decrease in the average cost of production and shift the supply curve downward, resulting in lower prices for consumers. Such an industry is called a decreasing cost industry.

When Entry of New Firms Decreases Input Prices in an Industry,it