If the Long-Run Industry Supply Curve Is Downward-Sloping, It Follows

question 164

Multiple Choice

If the long-run industry supply curve is downward-sloping, it follows that there are __________ costs in the industry.

• A)increasing
• B)constant
• C)decreasing
• D)There is not enough information to answer the question.

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Definitions:

Preventive

Relating to actions taken to prevent potential problems or damages before they occur.

Environmental Reporting

The process by which a company discloses information regarding its environmental impact and sustainability practices to stakeholders.

Ecological Issues

Concerns related to the impact of human activities on the environment, including pollution, loss of biodiversity, and climate change.

External Costs

Costs not borne by the producer or consumer of a good or service, but rather by third parties or the environment, often not included in the price of the good or service.