The Market Supply Curve for a Perfectly Competitive,constant Cost Industry

question 5

Multiple Choice

The market supply curve for a perfectly competitive,constant cost industry is

• A) identical with the supply curve of a perfectly competitive firm.
• B) horizontal in the short run.
• C) the numerical average of all the individual firms' supply curves.
• D) likely to become perfectly inelastic as the length of time covered by the curve grows.
• E) the horizontal summation of the marginal cost curves for all firms above the minimum average variable cost.