In a perfectly competitive, increasing cost industry, is the long-run supply curve always flatter than the short-run

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In a perfectly competitive, increasing cost industry, is the long-run supply curve always flatter than the short-run market supply curve? Explain.

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Macroeconomics Principles and Applications

ISBN: 978-1133265238

5th edition

Authors: Robert e. hall, marc Lieberman

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Question Posted: Dec 11, 2012 12:21 AM

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In a perfectly competitive, increasing cost industry, is the long-run supply curve always flatter than the short-run

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Yes In the short run a higher price induces existing firms to ...View the full answer

Macroeconomics Principles and Applications

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