An Industry's Long-Run Supply Curve Shows

question 158

Multiple Choice

An industry's long-run supply curve shows

• A)the relationship in the long run between market price and quantity supplied.
• B)how the government determines the price of the product.
• C)how average productivity is changing.
• D)greater than normal profit.

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Definitions:

Energy of Activation

The minimum amount of energy required to start a chemical reaction.

Metabolic Pathway

A series of chemical reactions occurring within a cell that leads to the conversion of one substance into another, often resulting in the production of energy or cellular components.

Reactant

A substance that takes part in and undergoes change during a reaction in a chemical process.

Entropy

Measure of disorder or randomness in a system.