Which of the following is true about the short-run and long-run supply curves?
A) The long-run supply curve is steeper than the short-run supply curve.
B) The long-run supply curve is vertical while the short-run supply curve is flatter.
C) The long-run supply curve is horizontal while the short-run supply curve is vertical.
D) The long-run supply curve is less steep than the short-run supply curve.
E) The long-run and short-run supply curves have the same slope.
Correct Answer:
Verified
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Q118: Which of the following statements correctly defines
Q119: The market-day supply curve is
A) horizontal, reflecting
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A) demand
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