For an increasing-cost industry, as industry output increases, input (factor) prices [...]as the industry demand for inputs increases. This results in a positively sloped long-run industry supply curve.
For an increasing-cost industry, as industry output increases, input (factor) prices [...]as the industry demand for inputs increases. This results in a positively sloped long-run industry supply curve.
For an increasing-cost industry, as industry output increases, input (factor) prices [...]as the industry demand for inputs increases. This results in a positively sloped long-run industry supply curve.
Answer
increase
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Open it For an increasing-cost industry, as industry output increases, input (factor) prices increase as the industry demand for inputs increases. This results in a positively sloped long-run industry supply curve.
Original toplevel document (pdf)
owner: iamcfa - (no access) - 2015 CFA Level 1 Study Schweser Book 2 - Economics, p89
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