If an input necessary for production is in limited supply so that an expansion of the industry raises costs for all existing firms in the market, then the long-run market supply curve for a good could be ?

Related Mcqs:

Firms in perfect competition face a?

A. perfectly elastic demand curve B. perfectly inelastic demand curve C. perfectly elastic supply curve D. perfectly inelastic supply curve...

If the long-run market supply curve for a good is perfectly elastic, an increase in the demand for that good will, in the long run, cause ?

A. an increase in the number of firms in the market but no increase in the price of the good B. an increase the price of the good and an increase in the number of firms in the market C. an increase the price of the good but no increase in the number of firms … If the long-run market supply curve for a good is perfectly elastic, an increase in the demand for that good will, in the long...

Holding all factors constant except one and increasing a variable factor is expected to lead to steadily decreased marginal product of that factor, this is an example of ?

A. decreasing returns to scale B. The law of diminishing returns C. constant returns to scale D. an inefficient production technique...

Which of the following is not a characteristic of a competitive market ?

A. All of these answers are characteristic of a competitive market B. The are many buyers and sellers in the market C. The goods offered for sale are largely the same. D. Firms generate small but positive economic profits in the long run E. Firms can freely enter or exit the market...

In monopolistic competition ?

A. There are few sellers B. There are few buyers C. There is one seller D. There are many sellers...