The long-run supply curve for a constant-cost perfectly competitive industry is _____

Name: The long-run supply curve for a constant-cost perfectly competitive industry is _____
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Question

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In a constant-cost perfectly competitive industry, the long-run supply curve is perfectly elastic, indicating that the industry can supply any amount of the good at a constant price. This is because, in the long run, firms can enter or exit the market freely, and production costs do not change as the industry's output changes.

The Long-Run Supply Curve for a Constant-Cost Perfectly Competitive Industry