In the Short Run,there Are 500 Identical Firms in a Competitive

question 457

Multiple Choice

In the short run,there are 500 identical firms in a competitive market.The firms do not use any resources that are available in limited quantities,and each of them has the following cost structure:
The long-run supply curve for this market is

• A) positively sloped.
• B) horizontal at a price of $3.33.
• C) horizontal at a price of $5.
• D) horizontal at a price of $7.

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