Why is the long-run market supply curve upward-sloping, Microeconomics

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Why is the long-run market supply curve upward-sloping

Problem

1. Why is the long-run market supply curve upward-sloping in an increasing-cost industry?

2. Why is the long-run market supply curve downward-sloping in a decreasing-cost industry?

3. Why is the long-run market supply curve horizontal in a constant-cost industry?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Why is the long-run market supply curve upward-sloping

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Microeconomics: Why is the long-run market supply curve upward-sloping

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