1 answer

The long-run industry supply curve in a decreasing-cost, perfectly competitive industry is o perfectly inelastic. o...

Question:

The long-run industry supply curve in a decreasing-cost, perfectly competitive industry is o perfectly inelastic. o negativel

The long-run industry supply curve in a decreasing-cost, perfectly competitive industry is o perfectly inelastic. o negatively sloped. O perfectly elastic. O positively sloped.

Answers

The long-run industry supply curve in a perfectly competitive industry with decreasing production cost (that is, cost decreases as output increases) is downward sloping. Thus, it is negatively sloped. Option B is correct.

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