If Many Firms Enter a Competitive Market and Demand for Raw

question 299

Multiple Choice

If many firms enter a competitive market and demand for raw materials increases, then

• A) there will be a downward shift of the SRATC curve.
• B) the long-run industry supply curve will slope upward.
• C) the long-run industry supply curve will slope downward.
• D) the average fixed cost curve will slope upward.

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