=+c. It has been argued that, in some industries, the average and marginal costs of all firms
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=+c. It has been argued that, in some industries, the average and marginal costs of all firms decline as more firms enter the market. For instance, such industries might make use of an unusual labor market skill that becomes more plentiful in the market as more workers train for this skill when many firms demand it. How would the long-run industry supply curve differ in this case from that discussed in the text as well as that described in (a)?
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Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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