In the Short Run in a Perfectly Competitive Industry

question 131

Multiple Choice

In the short run in a perfectly competitive industry,

• A)each firm's supply curve is horizontal,but the market supply curve is upward sloping
• B)the marginal cost curve equals the marginal revenue curve
• C)the market supply curve is upward sloping because each firm's supply curve is upward sloping
• D)the market demand curve is the sum of each consumer's marginal revenue curve
• E)each firm earns only a normal profit

---

Definitions:

Negative Points

Aspects or elements of a discussion, review, or analysis that highlight weaknesses, downsides, or disadvantages.

More Formal

Refers to a style or manner that is characterized by a greater adherence to traditional standards and rules of etiquette, often used in specific contexts or communications.

Clothing

Items worn on the body, usually made from fabric or textiles.

Interviewer

An individual who asks questions or conducts an interview, typically for the purpose of gathering information or assessing qualifications.