What Is a Long-Run Supply Curve? What Does a Long-Run

question 287

Essay

What is a long-run supply curve? What does a long-run supply curve look like on a perfectly competitive market graph?

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Definitions:

Discrimination

Unfair or prejudicial treatment of people based on characteristics such as race, age, sex, or disability rather than individual merit.

Harassment

Unwanted or unwelcome behavior that demeans, humiliates, or embarrasses a person, often creating a hostile or offensive environment.

Power Distance

This concept describes the extent to which less powerful members of institutions and organizations accept that power is distributed unequally.

Ethnocentric

Having or based on the belief that one's own ethnic group is superior, or judging other cultures solely by the values and standards of one's own culture.