Multiple Choice
Which of the following is NOT a characteristic of an increasing cost competitive industry? As the industry expands output in the long run,
A) the equilibrium price of product remains constant in the long run.
B) the prices of some inputs rise.
C) the long-run average cost of production increases at every level of output.
D) the number of firms increase.
E) none of the above
Correct Answer:

Verified
Correct Answer:
Verified
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