If the long-run supply curve slopes upward, we know that this is
A) a decreasing-cost industry.
B) a constant-cost industry.
C) an increasing-cost industry.
D) a situation in which no input prices change as firms enter and exit the industry.
C
Economics
You might also like to view...
What are some of the problems that exist with a laissez-faire economy?
What will be an ideal response?
Economics
Refer to the information provided in Figure 4.5 below to answer the question(s) that follow.
Figure 4.5Refer to Figure 4.5. The United States will import 3 million CD-Rom drives if ________ tariff per CD-Rom drive is levied on imported CD-Rom drives.
A. no B. a $10 C. a $15 D. a $25
Economics