Answer
higher
Work Step by Step
A new supplier will have a higher marginal cost because of the need to invest in the means of production that existing suppliers already have.
Microeconomics: Principles, Applications, and Tools (8th Edition)
by O'Sullivan, Arthur; Sheffrin, Steven; Perez, Stephen
Published by
Prentice Hall
ISBN 10:
0-13294-886-9
ISBN 13:
978-0-13294-886-9
Chapter 4 - Demand, Supply, and Market Equilibrium - Exercises - 4.2 The Supply Curve - Page 92: 2.9b
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