Question

Match the following

1. Increasing cost industry i. Horizontal long run supply curve

2. Decreasing cost industry ii. Positively sloped long run supply curve

3.Constant cost industry iii. Negatively sloped long run supply curve

1 2 3

A. i ii iii

B. iii ii i

C. ii iii i

D. ii i iii​

Answer 1

Answer:

C - ii iii i

Explanation:

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Answer 2

Answer:

c.ii iii

Explanation:

1.Increasing cost industry, exit will reduce the input prices of remaining firms.

2.ecreasing cost industry, input prices may rise with the exit of existing firms.

3.Constant cost industry, exit will not affect the input prices of remaining firms.