If the long-run supply curve is upward sloping, we know that
A) entrepreneurs are earning higher profits as output expands.
B) some input prices are increasing as the industry expands.
C) firms are getting larger as the industry contracts.
D) the law of diminishing marginal returns has set in.
B
Economics
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When a firm charges $4.95 instead of $5.00, what do economists call this pricing strategy?
A) indirect pricing B) cost-plus pricing C) odd pricing D) unusual pricing
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Internationally, the TRIPS agreement is uniformly regarded as a positive step for world prosperity
Indicate whether the statement is true or false
Economics