If an Industry's Long-Run Supply Curve Slopes Downward, Then the Industry

question 122

Multiple Choice

If an industry's long-run supply curve slopes downward, then the industry is

• A) a fixed-cost industry.
• B) a constant-cost industry.
• C) an increasing-cost industry.
• D) a decreasing-cost industry.

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Definitions:

Shingles

A viral infection caused by the varicella-zoster virus, leading to a painful rash, usually on one side of the body or face.

Cornea

A transparent area on the front of the outer layer of the eye that acts as a window to let light into the eye.

Pupil

The opening at the center of the iris, which grows smaller or larger as the iris contracts or relaxes, respectively; it regulates the amount of light that enters the eye.