Which of the Following Is TRUE About a Perfectly Competitive

question 27

Multiple Choice

Which of the following is TRUE about a perfectly competitive firm in the long run and in the short run?

• A) The supply curve in the short run is usually steeper than the supply curve in the long run.
• B) The supply curve in the short run is usually flatter than the supply curve in the long run.
• C) The demand curve in the short run is usually steeper than the marginal cost curve in the long run.
• D) The supply curve in the short run is usually steeper than the average total cost curve in the long run.

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