Examlex
Give two reasons why the long-run industry supply curve may slope upward. Use an example to demonstrate your reasons.
Price Of Potatoes
The cost at which potatoes are sold in the market, which can vary based on factors such as quality, supply, and demand.
Horizontal Axis
In a graph, the x-axis along which numerical values are plotted, typically representing a variable like time or quantity.
Budget Line
A graphical representation of all the possible combinations of two goods that can be purchased with a given income and prices.
Income Decreases
A situation where an individual's, household's, or country's income lowers over a period.
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