The Industry’s Long-Run Supply Curve

3 years ago
Microeconomics

Constant-cost industry – Industry whose long-run supply curve is horizontal at a price that is equal to the long-run minimum average cost of production.

Increasing-cost industry – Industry whose long-run supply curve is upward sloping.

Decreasing-cost industry – Industry whose long-run supply curve is downward sloping.

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Bijay Satyal
Bijay Satyal
Dec 1, 2021
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