Like the Short Run

question 74

Multiple Choice

Like the short run

• A)the long run supply curve is the sum of the individual firms' supply curves.
• B)the maximum number of firms in the market is fixed.
• C)firms operate only if they make a positive profit.
• D)All of the above.

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Definitions:

Black Cats

Often associated with superstition, they are cats with completely black fur which some cultures consider to be either good or bad luck.

Good Luck

A wish for fortune or success.

Some

An undefined quantity or number of individuals or objects.

Truth-functional Compound

A compound statement whose truth value depends solely on the truth values of its components.