BUECO5903 Business Economics - Microeconomics Assignment

Question 5:

(a) Illustrate and explain using diagrams, the difference between long run supply in a constant cost individual firm and industry and an increasing cost firm and industry.
(Firm level diagrams 2.5 marks; industry level diagrams 2.5 marks, firm level explanatio 2.5 marks, industry level explanation 2.5 diagrams)