In the long run in a competitive industry, if demand increases and the industry is a decreasing-cost industry, then the industry supply curve is
Question
Solution 1
In the long run, if demand increases in a competitive industry that operates under decreasing costs, the industry supply curve will shift to the right. Let's break down the steps to understand why:
- Start with a competitive industry: A competitive industry consists of many firms that produce simi Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
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