Select the Graph for Following Equation

question 98

Multiple Choice

Select the graph for following equation. ​ ​

• A)​
• B)​
• C)​
• D)​

---

Definitions:

Purely Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and products that are perfect substitutes.

Long Run

A period where all inputs or factors of production can be varied, allowing full adjustment to changes in the market or economy.

Short Run

A period in economics where at least one input is fixed and cannot be changed by the firm.

Market Price

The price at which a good or service is offered in the marketplace, determined by supply and demand dynamics.