Which statement is correct? The long-run supply curve for a purely competitive:

Question

Which statement is correct? The long-run supply curve for a purely competitive: Answer Decreasing-cost industry will be upward-sloping Increasing-cost industry will be perfectly elastic Increasing-cost industry will be upward-sloping Increasing-cost industry will be less elastic than the short-run supply curve Which statement is correct? The long-run supply curve for a purely competitive: Decreasing-cost industry will be upward-sloping Increasing-cost industry will be perfectly elastic Increasing-cost industry will be upward-sloping Increasing-cost industry will be less elastic than the short-run supply curve Decreasing-cost industry will be upward-sloping Increasing-cost industry will be perfectly elastic Increasing-cost industry will be upward-sloping Increasing-cost industry will be less elastic than the short-run supply curve

Explanation / Answer

ncreasing-cost industry will be less elastic than the short-run supply curve

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