Question
If the long-run supply curve for a perfectly competitive industry has a positive slope, the industry experiences A) external economies. B) external diseconomies. C) internal
If the long-run supply curve for a perfectly competitive industry
has a positive slope, the industry experiences
A) external economies.
B) external diseconomies.
C) internal economies.
D) internal diseconomies.
Assuming long-run external economies exist, when demand
increases in a perfectly competitive market, in the long run the
average total cost curve for a typical firm
A) shifts downward.
B) shifts upward.
C) stays the same.
D) is no longer U-shaped.
Can someone please answer these two questions in the second question I wanted to ask wont price increase when demand increases
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