Which of the Following Is True

question 10

Multiple Choice

Which of the following is true?

• A) The long-run industry supply curve relates the price of a good or service to the quantity produced after all adjustments to a price change have been completed.
• B) Every point on a long-run industry supply curve shows a price and quantity supplied at which firms in the industry are earning positive economic profit.
• C) In establishing the long-run industry supply curve, factor costs and the number of firms are held constant.
• D) In perfectly competitive industries, the long-run supply curve is always horizontal.

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Definitions:

World's Public Health

The health status and conditions impacting populations globally, focusing on issues like diseases, nutrition, and healthcare access.

Malnutrition

A condition that results from eating a diet in which one or more nutrients are either not enough or are too much such that the diet causes health problems.

World Bank

An international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects and economic development.

High-Income Economies

Countries with a gross national income per capita above a certain threshold, indicating a high level of economic prosperity.