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.
Correct Answer:

Verified
Correct Answer:
Verified
Q5: Assume that society places a higher value
Q10: The long-run market supply curve would be
Q11: Assume that the market for corn is
Q61: Allocative efficiency is achieved by equalizing consumer
Q76: Long-run competitive equilibrium<br>A) is realized only in
Q100: If a purely competitive firm is producing
Q120: We would expect an industry to expand
Q148: The term productive efficiency refers to<br>A) any
Q171: When a purely competitive firm is in
Q197: When a competitive firm sees the price