i> A Moving to another question will save this response. > Question 22 1 points Save Answer What is true about the long run industry supply curve in a perfectly competitive industry? O a. It is less elastic that the short run industry supply curve O b. It is more elastic than the short run industry supply curve O c. It is downward sloping O d. None of the above i) A Moving to another question will save this response. >A Moving to another question will save this response. > Question 23 1 points Save Answer Many furniture stores run "going out of business" sales but never go out of business. For the shut-down decision to be the appropriate one, the price of furniture must be _than the_ average variable cost. O a. higher; maximum O b. lower; minimum O c. higher; minimum O d. lower; maximum .) A Moving to another question will save this response. >> A Moving to another question will save this response. > Question 24 1 points Save Answer What is always true at the profit maximizing point for a monopolist? O a. Marginal Revenue=Marginal Cost O b. Price> Marginal Cost O c. Both a) and b) are true O d. Neither a) nor b) is true A Moving to another question will save this response. >>A Click Submit to complete this assessment.