Multiple Choice
Which of the following statements is true for a long-run supply curve that slopes upward?
A) If total market output is increased, unit costs of production increase.
B) If total market output is unchanged, unit costs of production increase.
C) The total cost of producing 15 units is no larger than the cost of producing 10 units.
D) If total market output is decreased, total costs of production will remain unchanged.
Correct Answer:

Verified
Correct Answer:
Verified
Q105: With the creation and growth of the
Q106: Long-run supply curves for a purely competitive
Q107: The term productive efficiency refers to<br>A)any short-run
Q108: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8602/.jpg" alt=" Refer to the
Q109: Competitive markets produce equilibrium prices and quantities
Q111: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8602/.jpg" alt=" If this diagram
Q112: Creative destruction is<br>A)the process by which large
Q113: In the long run, assuming that market
Q114: When a competitive firm sees losses because
Q115: In a purely competitive industry, an optimal