Question

Which of the following statements is TRUE?
	Costs increase if a decreasing cost industry becomes smaller. Costs increase if a decreasing cost industry becomes larger. An increasing cost industry has a long-run supply curve that is first flat then slopes downward with output. A constant cost industry has a straight long-run supply curve that slopes upward.

7.

Answer 1

Ans) the correct option is a) Costs increase if a decreasing cost industry becomes smaller.