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Answer to Question #88206 in Microeconomics for Shivangi Aggarwal
Question #88206
Illustrate and explain using diagrams, the difference between long-run supply in a constant
cost individual firm and industry and an increasing cost firm and industry.
cost individual firm and industry and an increasing cost firm and industry.
Expert's answer
Long-run supply in a constant
cost individual firm and industry is a horizontal line and in increasing cost firm and industry it is an increasing line.
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