If resource prices are not affected by changes in industry output-level. An industry with rising production costs, sometimes referred to as an industry with rising costs, has a long-term supply curve that slopes upward.
A decreasing-cost industry is one in which manufacturing prices go lower as output goes up. This sector's long-term supply curve slopes downward. The supply curve slopes higher because a corporation would typically be more inclined to produce a good as its price increases. The cost of production also tends to climb as output increases because businesses are efficient and would use up the cheapest production inputs first. a graph showing the link between the cost and volume of an item or service.
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