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Why is the long-run market supply curve upward-sloping in an increasing-cost industry?

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Vaishali Yadav
Vaishali YadavLv10
11 Sep 2020
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Related questions

A decreasing-cost industry will have:

a. a downward-sloping supply curve in the long run.
b. an upward-sloping demand curve in the long run.
c. a perfectly elastic long-run supply curve.
d. a perfectly inelastic long-run supply curve.


The long run supply curve in case of increasing-cost industry is ____ sloping

1. Which of the following is not a difference between the short-run and long-run for a firm?

a) The firm can adjust the level of machines in the long-run, but not in the short-run

b) The firm can adjust the level of labor in the long-run, but not in the short-run

c) The firm can use different technology in the long-run, but not the short-run

d) The firm can enter the market in the long-run, but not in the short-run

Ā 

Questions 2 through 6, consider a competitive market in which all firms are the same and have typical-looking cost curves. 2. Which of the following best describes the short-run supply curve of each firm?

a) Upward sloping

b) A flat part, then an upward sloping part

c) Horizontal

d) Vertical

Ā 

3. Which of the following best describes the short-run market supply in this industry?

a) Upward sloping

b) A flat part, then an upward sloping part

c) Horizontal

d) Vertical

Ā 

4. Which of the following best describes the long-run market supply in this industry?

a) Upward sloping

b) A flat part, then an upward sloping part

c) Horizontal

d) Vertical

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