Question

explain increasing cost indrustry with the help of a diagram​

Answer 1

Answer:

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The long run supply curve of a competitive industry is not obtained in the same way as the short run industry supply curve. In other words, simply by aggregating individual firm’s long run MC curves one cannot obtain long run industry supply curve. The procedure of deriving the long run industry supply curve is different since, in the long run, entry into and exit

Explanation: