Long-run market supply curves are downward sloping if
A. firms are identical.
B. the number of firms is restricted in the long run.
C. input prices fall as the industry expands.
D. All of the above.
Answer:C
Long-run market supply curves are downward sloping if
A. firms are identical. B. the number of firms is restricted in the long run. C. input prices fall as the industry expands. D. All of the above.