The industry represented by the graph above where S1 and S2 are short-run supply curves,D1 and D2 are short-run demand curves,and LRS is the long-run supply curve can be said to be:
A) a constant-cost industry.
B) an average-cost industry.
C) a decreasing-cost industry.
D) an increasing-cost industry.
Correct Answer:
Verified
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