(Figure: Determining Industry Cost Characteristics) Short-Run and Long-Run Supply Curves

question 79

Multiple Choice

(Figure: Determining Industry Cost Characteristics) Short-run and long-run supply curves with short-run market equilibrium at points A and B are shown in the graph. We can conclude that the industry in the graph is a(n)

• A) increasing cost industry.
• B) decreasing cost industry.
• C) constant cost industry.
• D) market in long-term disequilibrium.

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