One Reason Why the Long-Run Supply Curve May Slope Upward

question 124

Multiple Choice

One reason why the long-run supply curve may slope upward in a competitive market is that

• A) firms can exit the industry easily.
• B) firms can enter the industry easily.
• C) there are many buyers and many sellers.
• D) some resources necessary to produce the product may be available only in limited supplies.
• E) some resources necessary to produce the product are not limited.

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Definitions:

Policy Reports

Documents that provide analysis and recommendations on specific policy issues, intended to guide decision-making processes.

Position Papers

Written documents that present an argument or viewpoint on a specific issue, often used in academic, political, or legal contexts.

Organization's Official Position

A formal statement or stance that an organization takes on a specific issue or topic.

Company's Success

The achievement of desired visions and planned goals, leading to a positive outcome for a company.