An industry with a positive-sloping long-run supply curve is called a(n) ________ industry.
A) constant-cost
B) decreasing-cost
C) increasing-cost
D) decreasing-profit

Question

Quizplus · Accepted Answer

An increasing-cost industry is characterized by a positive-sloping long-run supply curve, indicating that as output increases, the costs of production also increase. This can be due to factors such as the depletion of resources, increased prices for inputs as demand rises, or the industry operating at less efficient scales as it expands.

An Industry with a Positive-Sloping Long-Run Supply Curve Is Called