If Firms in a Competitive Market Are Identical,the Long-Run Market

question 28

True/False

If firms in a competitive market are identical,the long-run market supply curve is horizontal.

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Definitions:

Refocusing

Adjusting or shifting attention, resources, or priorities towards a different objective or task.

Predict

The act of forecasting or estimating a future event or trend based on current evidence or signals.

Ambition

Ambition is a strong desire to achieve success, recognition, or power, often leading an individual to pursue goals with determination.

Vague

Lacking clarity or specificity, often leaving details ambiguous or undetermined.