An Industry with an Upward-Sloping Long-Run Supply Curve Experiences

question 74

Multiple Choice

An industry with an upward-sloping long-run supply curve experiences

• A)external diseconomies of scale.
• B)the law of increasing costs.
• C)diminishing returns.
• D)a loss of efficiency.
• E)external economies of scale.

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Definitions:

Prevailing Norms

The dominant or most common standards, behaviors, or beliefs within a particular group or society.

Communication Technologies

Tools and platforms that facilitate the exchange of information and communication, including telephones, email, social media, and video conferencing systems.

Communication Tools

Communication tools are instruments or platforms used to convey information or messages between individuals or groups, such as email, social media, and telephones.

Prevailing Customs

The common practices and norms that are widely accepted and followed within a particular society or community.