The Long-Run Supply Curve Under Pure Competition Will Be

question 142

Multiple Choice

The long-run supply curve under pure competition will be

• A)downward-sloping in a decreasing-cost industry and upward-sloping in an increasing-cost industry.
• B)horizontal in a constant-cost industry and downward-sloping in an increasing-cost industry.
• C)vertical in a constant-cost industry and upward-sloping in a decreasing-cost industry.
• D)upward-sloping in an increasing-cost industry and vertical in a constant-cost industry.

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Definitions:

Club Mosses

A phylum of seedless vascular plants with a life cycle similar to that of ferns.

Horsetails

Fern relatives with hollow, jointed stems, to which tiny leaves (reduced megaphylls) are attached in whorls.

Haploid

A term referring to a cell that contains a single set of chromosomes, typical of gametes.

Gametophyte Generation

The n, gamete-producing stage in the life cycle of a plant. Compare with Sporophyte Generation.