18. If an input necessary for production is in limited supply so that an expansion of the...

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18. If an input necessary for production is in limited supply so that an expansion of the industry raises costs for all existing firms in the market, then the long-run market supply curve for a good could be

a. perfectly elastic.

b. downward sloping.

c. upward sloping.

d. perfectly inelastic.

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Study Guide For N. Gregory Mankiw's Principles Of Microeconomics

ISBN: 9783030019983

5th Edition

Authors: David R. Hakes

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Question Posted: Nov 15, 2024 03:00 AM

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18. If an input necessary for production is in limited supply so that an expansion of the...

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Study Guide For N. Gregory Mankiw's Principles Of Microeconomics

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