Suppose that as the output of mobile phones increases, the cost of touch screens and other component
Question:
Suppose that as the output of mobile phones increases, the cost of touch screens and other component parts decreases. If the mobile phone industry features pure competition, we would expect the long-run supply curve for mobile phones to be:
a. Upward sloping.
b. Downward sloping.
c. Horizontal.
d. U-shaped.
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Answer b Downward sloping This is a decreasingcost industry because the cost of mobileph...View the full answer
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Related Book For 
Microeconomics Principles, Problems and Policies
ISBN: 978-1259450242
20th edition
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn
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