If a perfectly competitive industry uses a large proportion of the available inputs in a resource market, then the long-run market supply curve for the industry will most likely be:

Question

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In a perfectly competitive industry that uses a large proportion of available inputs, the increased demand for these inputs can drive up their prices, leading to higher production costs. This results in an upward-sloping long-run supply curve as firms require higher prices to cover the increased costs and supply more output.

If a Perfectly Competitive Industry Uses a Large Proportion of the Available