An industry in which expansion through the entry of firms decreases the prices, firms in the industry must pay for resources and there fore decreases their production costs?

Academy of PakistanTest & Learning

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Academy of PakistanTest & Learning

804Active Users

23AgricultureMedium

ADecreasing cost industry

BBoth

CNone

DDeclining industry

Correct answer

A. Decreasing cost industry

Explanation

The correct answer is Decreasing cost industry.

An industry in which expansion through the entry of firms decreases the prices, firms in the industry must pay for resources and there fore decreases their production costs? - Answer and Explanation | Academy of Pakistan