In a competitive industry where different firms have different cost structures, the industry supply curve is:
A) upward sloping.
B) downward sloping.
C) vertical.
D) horizontal.
Question 2
Refer to the table above. Suppose that in normal years demand is represented by Case 2 and supply is represented by Case B. If it is discovered that wapanzo beans help prevent cancer, then supply will ________ and demand will ________.
A) become case C; become case 1
B) become case C; stay at case 2
C) stay at case B; become case 1
D) become case A; become case 1
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