In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. What is another way to state this fact? (a) Market supply is much more elastic in the long run than the short run. (b) In the long run, average total cost is minimized. (c) In the long run, price equals marginal cost. (d) Market supply is much less elastic in the long run than the short run.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. What is another way to state this ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
It is important to accommodate diverse cultural needs to set your program apart. True False Submit
Answers (1)
Even though mass transit systems such as buses are available in most cities in the United States, many residents decide to drive to work in their own vehicles because 1. the opportunity cost of riding a bus is too high for them2.
Answers (1)
Your roommate is a better cook than you are, but you can clean more quickly than your roommate can. If your roommate did all the cooking and you did all the cleaning, would your chores take you more or less time than if you divided each task evenly?
Answers (2)
Grocery Corporation received $330,654 for 9.50 percent bonds issued on January 1, 2018, at a market interest rate of 6.50 percent.
Answers (1)
Which of the following is NOT true about College it is considered any level of education after High School it is an education that leads to a diploma, certificate, or degree It only offers 4 year degrees None of the above are true
Answers (1)
New Questions in Business
Harry's Hotdogs is a small street vendor business owned by Harry Huggins. Harry is trying to get a better understanding of his costs by categorizing them as fixed or variable.
Answers (1)
A registered representative opens a new account for a customer by telephone and receives an order to sell 300 shares of ABC at the market.
Answers (1)
Brian brewster sold property to a buyer who paid him $400,000 cash and assumed an existing mortgage of $150,000
Answers (1)
The following inventory information was taken from the records of Kleinfeld Inc.: Historical cost $12,000 Replacement cost $7,000 Expected selling Price $9,000 Expected selling cost $500 Normal profit margin 50% of price Assume that subsequent to
Answers (1)
Eliza has a policy that allows her to deduct the premiums she pays that exceed 10% of her adjusted gross income. Once she turns 65, she can deduct the premiums that exceed 7.5% of her adjusted gross income. Which type of policy does Eliza have?
Answers (1)