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If, as a perfectly competitive industry expands, it can supplylarger quantities only at a higher long-run equilibrium price, itis a fixed-cost industry. an increasing-cost industry.
If, as a perfectly competitive industry expands, it can supplylarger quantities only at a higher long-run equilibrium price, itis
a fixed-cost industry. | ||
an increasing-cost industry. | ||
a constant-cost industry. | ||
a decreasing-cost industry. |
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