What Is the Shape of the Long-Run Supply Curve in a Decreasing-Cost

question 174

Multiple Choice

What is the shape of the long-run supply curve in a decreasing-cost industry?

• A) Horizontal
• B) Increasing
• C) Downward sloping
• D) Upward sloping

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Definitions:

Service Business

A type of business that provides intangible products or services to consumers, as opposed to selling physical goods.

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A company organization that blends the direct taxation features of a partnership or sole proprietorship with the protective limited liability characteristic of a corporation.