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Demand increases in an increasing-cost industry that is initially in long-run competitive equilibrium. After full adjustment, price will be

Sagot :

Answer: above its original value

Explanation:

An increasing-cost industry simply means the industries whereby there's a rise in the average costs when the output increases.

Demand increases in an increasing-cost industry which is in long-run competitive equilibrium. After full adjustment, price will be above its original value.

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