Why is long run supply curve for a constant cost industry upward sloping
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In This Case, The Unexpected Increase In Demand Causes Industry Output To Expand As Before. ... The Lower Price And The Lower Ac Of Production Induce A New Long-run Equilibrium With More Firms, A Lower Price And More Output. Thus, In A Decreasing-cost Industry, The Long-run Supply Curve Is Downward-sloping.
In This Case, The Unexpected Increase In Demand Causes Industry Output To Expand As Before. ... The Lower Price And The Lower Ac Of Production Induce A New Long-run Equilibrium With More Firms, A Lower Price And More Output. Thus, In A Decreasing-cost Industry, The Long-run Supply Curve Is Downward-sloping.
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