A Long-Run Supply Curve That Is Downward-Sloping Indicates That the Firms

question 34

Multiple Choice

A long-run supply curve that is downward-sloping indicates that the firms' ATC curves

• A)shift up when the industry expands.
• B)shift down when the industry contracts.
• C)shift down when the industry expands.
• D)do not shift when the industry contracts.

---

Definitions:

Quick-fix Mentality

A mindset focused on seeking immediate solutions or responses to problems, often at the expense of long-term effectiveness.

Nonquantitative Studies

Research that focuses on exploring ideas or theories rather than numerical data or statistics.

Highly Controlled Laboratory Studies

Research experiments conducted in a strictly regulated environment to isolate variables and determine cause-and-effect relationships.

One Best Way

A management philosophy suggesting there is a single most effective method to perform a task or process.