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The long-run market supply curve in a competitive market will Question 11Answer a. Typically be more elastic than the short-run supply curve b. Always be
The long-run market supply curve in a competitive market will Question 11Answer a. Typically be more elastic than the short-run supply curve b. Always be horizontal c. Be above the competitive firm's efficient scale d. Be the portion of the MC that lies above the minimum of AVC for the marginal firm
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Econometric Analysis
Authors: William H. Greene
5th Edition
130661899, 978-0130661890
