If the long-run supply curve in a perfectly competitive industry is upward sloping,this is because

Name: If the long-run supply curve in a perfectly competitive industry is upward sloping,this is because
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Question

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The long-run supply curve in a perfectly competitive industry can be upward sloping due to firms being different (which can lead to differences in costs as output increases) or because input prices rise as the industry expands, increasing the costs of production for all firms.

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