

MCQOPTIONS
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1. |
If an input necessary for production is in limited supply so that an expansion of the industry raises costs for all existing firms in the market, then the long-run market supply curve for a good could be ? |
A. | perfectly inelastic |
B. | perfectly elastic |
C. | upward sloping |
D. | downward sloping |
Answer» D. downward sloping | |