sydneybigelow815 sydneybigelow815
  • 03-06-2021
  • Business
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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

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topeadeniran2 topeadeniran2
  • 04-06-2021

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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