Why Will the Long-Run Market Supply Curve for Most Products

question 71

Multiple Choice

Why will the long-run market supply curve for most products slope upward to the right?

• A) The firms producing the product will be unable to expand the size of their plant and equipment in the long run.
• B) Economies of scale are present in most industries.
• C) Most products are produced under conditions of constant cost.
• D) Resource prices will rise and push costs upward as the output of the industry expands.

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Only Child

An individual who has no siblings, and as a result, may have unique developmental and social experiences compared to those with siblings.

Youngest Child

Describes the last-born child in a family, who may experience different parenting styles and family dynamics compared to their older siblings.

Second-Born

Refers to the child who is born second in the sibling order within a family, often facing different developmental challenges and family dynamics compared to first-born or later-born siblings.

Social Interest

A concept introduced by Alfred Adler that describes an individual's inclination towards cooperation, community, and social betterment.