The long-run supply curve for a decreasing-cost industry is downsloping.

Name: The long-run supply curve for a decreasing-cost industry is downsloping.
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Question

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In a decreasing-cost industry, as production increases, the cost of production decreases due to factors such as economies of scale, technological advancements, and improved efficiency. This leads to lower prices and increased output in the long run, causing the supply curve to slope downwards.

The Long-Run Supply Curve for a Decreasing-Cost Industry Is Downsloping