An Industry's Long-Run Supply Curve Will Be Flat If Inputs

question 6

Essay

An industry's long-run supply curve will be flat if inputs are in abundant supply and if the industry consumes only a small share of the inputs in the market. Why?

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Definitions:

Predetermined

Established or decided in advance, often before the occurrence of an event or the taking of an action.

Enterprising Nonprofits

Nonprofit organizations that adopt entrepreneurial methods to generate revenue for their social missions.

Hybrid Models

Business or organizational models that blend characteristics from different traditional forms to achieve specific objectives.

Outside Investment

Capital that comes from sources external to a business or entrepreneur, such as angel investors, venture capitalists, or financial institutions, to support growth or startup.