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If a Perfectly Competitive Industry's Long-Run Supply Curve Is Downward-Sloping

Question 44

Multiple Choice

If a perfectly competitive industry's long-run supply curve is downward-sloping, what can we conclude about input prices?


A) they will increase as industry output increases.
B) they will decrease as industry output increases.
C) they will remain constant as industry output increases.
D) they will decrease as industry output decreases.

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