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In the Short Run, There Are 500 Identical Firms in a Competitive

Question 371

Multiple Choice

In the short run, there are 500 identical firms in a competitive market. The firms do not use any resources that are available in limited quantities, and each of them has the following cost structure: In the short run, there are 500 identical firms in a competitive market. The firms do not use any resources that are available in limited quantities, and each of them has the following cost structure: The long-run supply curve for this market is A) positively sloped for all prices above $10. B) horizontal at a price of $5. C) horizontal at a price of $6. D) horizontal at a price of $7. The long-run supply curve for this market is


A) positively sloped for all prices above $10.
B) horizontal at a price of $5.
C) horizontal at a price of $6.
D) horizontal at a price of $7.

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