Industries in Which the Long-Run Supply Curve Is Downward Sloping

question 14

Multiple Choice

Industries in which the long-run supply curve is downward sloping are

• A) constant-cost industries
• B) increasing-cost industries
• C) decreasing-cost industries

---

Definitions:

Note Receivable

A written promise that entitles the holder to receive a specified amount of money at a set date in the future, often bearing interest.

90-Day Note

A short-term debt obligation that matures in 90 days.

Settle Account

The process of paying off or resolving a financial account or obligation.

Percent of Receivables Method

An accounting technique used to estimate the amount of a company's receivables that will not be collected.