The figure below shows a long-run industry supply curve (S LR ) and the demand curve (D) facing the competitive industry. The firms in this industry employ inputs of varying quality and productivity.

-In long-run competitive equilibrium, the industry will produce ________ units of the good and sell these units at the market-clearing price of $______ per unit.

Question

The figure below shows a long-run industry supply curve (S LR ) and the demand curve (D) facing the competitive industry. The firms in this industry employ inputs of varying quality and productivity.
 
-In long-run competitive equilibrium, the industry will produce ________ units of the good and sell these units at the market-clearing price of $______ per unit.

Quizplus · Accepted Answer

The Answer of The figure below shows a long-run industry supply curve (S LR ) and the demand curve (D) facing the competitive industry. The firms in this industry employ inputs of varying quality and productivity.
 
-In long-run competitive equilibrium, the industry will produce ________ units of the good and sell these units at the market-clearing price of $______ per unit.

The Figure Below Shows a Long-Run Industry Supply Curve (SLR)

The Figure Below Shows a Long-Run Industry Supply Curve (S_LR)