If the Long-Run Supply Curve Is Upward-Sloping, It Indicates That

question 67

Multiple Choice

If the long-run supply curve is upward-sloping, it indicates that resource prices fall when

• A) production in the industry decreases in the long run.
• B) production in the industry increases in the long run.
• C) new firms enter the industry.
• D) short-run profits in the industry are positive.

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