1.Long-run market supply curves are upward sloping if

A.firms are identical.

B.the number of firms is restricted in the long run.

C.input prices fall as the industry expands.

D.All of the above.

2.Suppose that for each firm in the competitive market for potatoes, long-run average cost is minimized at $1 per pound when 100 pounds are grown. The demand for potatoes is D(p)=15600/p. If the long-run supply curve is horizontal, then how many firms will this industry sustain in the long run?

3.Mister Jones was selling his house. The asking price was $232,000, and Jones decided he would take no less than $202,000. After some negotiation, Mister Smith purchased the house for $228,000. Jones' producer surplus is