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Suppose That an Industry's Long-Run Supply Curve Is Downsloping

Question 25

Multiple Choice

Suppose that an industry's long-run supply curve is downsloping. This suggests that


A) it is an increasing-cost industry.
B) relevant inputs have become more expensive as the industry has expanded.
C) technology has become less efficient as a result of the industry's expansion.
D) it is a decreasing-cost industry.

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