The long-run supply curve under pure competition will be:
A. upsloping in an increasing-cost industry and vertical in a constant-cost industry.
B. downsloping in a decreasing-cost industry and upsloping in an increasing-cost industry.
C. horizontal in a constant-cost industry and downsloping in an increasing-cost industry.
D. vertical in a constant-cost industry and upsloping in a decreasing-cost industry.
Answer: B
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a. true b. false