Which of the following is NOT a characteristic of an increasing cost competitive industry? As the industry expands in the long run,

Question

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An increasing cost competitive industry is characterized by the fact that, over time, the cost of production increases and the prices of some inputs rise. As a result, the industry experiences a rising supply curve, which leads to higher prices and reduced output. However, the price of the product itself remaining constant would contradict this trend and is therefore not a characteristic of an increasing cost competitive industry. The number of firms may or may not increase, depending on the specific market conditions.

Which of the Following Is NOT a Characteristic of an Increasing