Multiple Choice
If the firms in a market have constant returns to scale internally while there are external economies of scale for the industry,a firm's long- run supply curve will be _ and the long- run market supply curve will be .
A) horizontal; downward sloping
B) upward sloping; downward sloping
C) downward sloping; downward sloping
D) upward sloping; horizontal
E) downward sloping; horizontal
Correct Answer:
Verified
Correct Answer:
Verified
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