In an increasing-cost industry, the long-run market supply curve is

Name: In an increasing-cost industry, the long-run market supply curve is
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In an increasing-cost industry, as the market demand increases, the cost of production also increases. Therefore, firms will require higher prices to cover their increasing costs and remain profitable. As a result, the long-run market supply curve will slope upwards, reflecting the higher prices required to induce firms to produce more output.

In an Increasing-Cost Industry, the Long-Run Market Supply Curve Is