The long-run industry supply curve will: a. be less elastic than the short run industry supply curve. b. be more elastic than the short-run industry supply curve. c. always be horizontal. d.
SOLVED:What assumptions cause the immediate-short-run aggregate supply curve to be horizontal? Why is the long-run aggregate supply curve vertical? Explain the shape of the short-run aggregate supply curve. Why is the short-run
The short-run supply curve for a competitive firm is the: a. entire MC curve. b. segment of the MC curve lying below the AVC curve. c. segment of the MC curve lying
Long Run Supply Curve of a Firm: Meaning, Examples