Answered

Welcome to Westonci.ca, the place where your questions find answers from a community of knowledgeable experts. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals.

If the long-run market supply curve for a perfectly competitive market is upward sloping, then this industry exhibits _____ costs. increasing decreasing constant an absence of marginal

Sagot :

Parrain

When a perfectly competitive market has a long-run market supply curve that is upward sloping, then that market has increasing costs.

A market supply curve that is upward sloping means that:

  • Costs increase as production quantity increases
  • Suppliers will produce more if prices rise as well

In such a market, suppliers face increasing costs as they produce more which is why they will demand higher prices in order to produce more so that they can cover their costs.

In conclusion, such a market will have increasing costs.

Find out more at https://brainly.com/question/21979948.

Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.