When Entry and Exit Behavior of Firms in an Industry

question 143

Multiple Choice

When entry and exit behavior of firms in an industry does not affect a firm's cost structure,

• A)the long-run market supply curve must be horizontal.
• B)the long-run market supply curve must be upward-sloping.
• C)the long-run market supply curve must be downward-sloping.
• D)we do not have sufficient information to determine the shape of the long-run market supply curve.

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Definitions:

Layout

The arrangement or plan of elements in a document, web page, or work of art, often considering aesthetic and functional aspects.

Format

The arrangement, structure, or layout of data, documents, or other materials, often defined by rules or standards.

Exit Command

A command used in programming and software to terminate the current process or close a running application.

Close Button

A graphical user interface element that allows users to exit a window or terminate an application.