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If, as a Perfectly Competitive Industry Expands, It Can Supply

Question 249

Multiple Choice
If, as a perfectly competitive industry expands, it can supply larger quantities at the same long-run market price, it is

If, as a perfectly competitive industry expands, it can supply larger quantities at the same long-run market price, it is


A) a constant-cost industry.
B) an increasing-cost industry.
C) a decreasing-cost industry.
D) a fixed-cost industry.

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