The Long-Run Supply Curve for a Competitive Industry

question 193

Multiple Choice

The long-run supply curve for a competitive industry

• A)may be horizontal if entry into the industry lowers average total cost.
• B)may be upward-sloping if higher-cost firms enter the industry.
• C)will be horizontal if there is free entry into the industry.
• D)will be upward-sloping if there are barriers to entry into the industry.

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