I need the answer as soon as possible When would a perfectly competitive industry have a long-run supply curve that slopesdownwards?a) If the industry has constant costs.b) If the industry has decreasing costs.c) If the industry has increasing costs.d) Never.

Perfect competition market is market where large number of buyer and seller sell similar products…

Answered: When would a perfectly competitive…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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When would a perfectly competitive industry have a long-run supply curve that slopes downwards? O a) If the industry has constant costs. O b) If the industry has decreasing costs. O c)If the industry has increasing costs. d) Never.