In a decreasing-cost industry,the long-run industry supply curve is

Name: In a decreasing-cost industry,the long-run industry supply curve is
Brand: Quizplus
Rating: 5.0 (52 reviews)

Question

Quizplus · Accepted Answer

In a decreasing-cost industry, as output increases, the cost of production decreases due to economies of scale. This means that in the long run, firms are able to produce and sell more output at lower costs. As a result, the long-run industry supply curve slopes downward, reflecting the lower cost of production as output increases.

In a Decreasing-Cost Industry,the Long-Run Industry Supply Curve Is