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The Graph Above Represents A(n)

Question 118

Multiple Choice

  The graph above represents a(n) : A)  decreasing-cost industry: firms may be paying lower prices for their inputs when the industry expands. B)  increasing-cost industry: firms may be paying higher prices for their inputs when the industry expands. C)  competitive,break-even industry: the long-run supply curve is upward sloping as it must be according to the law of supply. D)  constant-cost industry: prices of the inputs stay the same,and other production costs are constant as the industry expands. The graph above represents a(n) :


A) decreasing-cost industry: firms may be paying lower prices for their inputs when the industry expands.
B) increasing-cost industry: firms may be paying higher prices for their inputs when the industry expands.
C) competitive,break-even industry: the long-run supply curve is upward sloping as it must be according to the law of supply.
D) constant-cost industry: prices of the inputs stay the same,and other production costs are constant as the industry expands.

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