In an Increasing-Cost Industry the Long-Run Supply Curve Is Upward

question 265

True/False

In an increasing-cost industry the long-run supply curve is upward sloping.

---

Definitions:

Flywheel

A mechanical device specifically designed to efficiently store rotational energy, which helps stabilize the speed of an engine.

Torque Converter

The torque converter connects the engine’s crankshaft to the input shaft of an automatic transmission.

Input Shaft

The shaft in a gearbox that receives power from the engine or motor to be distributed through the gears to the output shaft.

Transmission Switch

A device within a vehicle's transmission system that controls various functions based on the vehicle's gear position.