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Business, 16.11.2019 06:31 anishivaturi123

Aconstant-cost industry

a) has a downward sloping long-run supply curve.
b) is one in which an increase in demand is matched by a proportional increases in long-run supply.
c) has a horizontal long-run supply curve.
d) generates increasing profits whenever demand increases because the new long-run equilibrium price is above the old price even though average costs have not changed.

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Aconstant-cost industry

a) has a downward sloping long-run supply curve.
b) is one...
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