In an increasing-cost industry, an increase in industry demand would lead to ______ in the number of

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In an increasing-cost industry, an increase in industry demand would lead to ______ in the number of firms and ______ in firms’ average cost curves in the long run.

a. No change; no change

b. No change; an upward shift

c. An increase; no change

d. An increase; an upward shift

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Exploring Economics

ISBN: 9781544336329

8th Edition

Authors: Robert L. Sexton

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Question Posted: Jan 17, 2023 05:38 AM

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In an increasing-cost industry, an increase in industry demand would lead to ______ in the number of

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