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When Entry and Exit Behaviour of Firms in an Industry

Question 149

Multiple Choice

When entry and exit behaviour of firms in an industry does not affect a firm's cost structure:


A) the long-run market supply curve must be upward-sloping
B) the long-run market supply curve must be downward-sloping
C) the long-run market supply curve must be horizontal
D) we can't tell anything about the shape of the long-run market supply curve

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