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

question 1

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.

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Definitions:

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