In a perfectly competitive industry - assuming the short-run average total cost increases as the output of the industry expands - the industry supply curve,in the long run,will:
A) first have a positive slope and then a negative slope.
B) have a negative slope.
C) be perfectly horizontal.
D) be perfectly vertical.
E) have a positive slope.
Correct Answer:
Verified
Q94: In long-run equilibrium, the typical perfectly competitive
Q95: Exhibit 7-8 Q96: Exhibit 7-8 Q97: Consider a firm operating where P = Q99: In the long run, the perfectly competitive Q101: If the computer market experiences a surge Q103: Exhibit 7-10 Long-run perfectly competitive industry Q111: If a competitive firm cannot cover all Q174: In long-run equilibrium, which of the following Q215: If marginal revenue exceeds marginal cost in
![]()
![]()
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents