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:

Swallow

The act of making a muscular movement of the throat to pass something from the mouth to the stomach.

Transdermal Fentanyl

A potent synthetic opioid analgesic used in a patch form to deliver pain medication through the skin over an extended period.

Medication Patch

A transdermal patch that delivers medication directly through the skin into the bloodstream for systemic treatment.

Swallow

The act of making food or liquid pass from the mouth, through the pharynx, and into the esophagus, as part of the process of digestion.