Suppose That an Industry's Long-Run Supply Curve Is Downsloping

question 25

Multiple Choice

Suppose that an industry's long-run supply curve is downsloping. This suggests that

• A)it is an increasing-cost industry.
• B)relevant inputs have become more expensive as the industry has expanded.
• C)technology has become less efficient as a result of the industry's expansion.
• D)it is a decreasing-cost industry.

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Definitions:

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A complex psychological state involving an individual's subjective experience, physiological response, and behavioral or expressive response.

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Vivid, highly detailed memories of significant events, typically retained with a feeling of emotional intensity.