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    Economics Study Set 11
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    Exam 11: Pure Competition in the Long Run
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    An Industry That Has Increasing Returns to Scale and Fixed
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An Industry That Has Increasing Returns to Scale and Fixed

Question 139

Question 139

Multiple Choice

An industry that has increasing returns to scale and fixed factor prices will have a long-run supply curve that is


A) vertical.
B) horizontal.
C) upward-sloping.
D) downward-sloping.

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