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Which of the Following Statements Is TRUE

Question 133

Multiple Choice

Which of the following statements is TRUE?


A) Costs increase if a decreasing cost industry becomes smaller.
B) Costs increase if a decreasing cost industry becomes larger.
C) A constant cost industry has a straight long-run supply curve that slopes upward.
D) An increasing cost industry has a long-run supply curve that is first flat then slopes downward with output.

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