If a Perfectly Competitive Industry Uses Only a Small Share

question 153

Multiple Choice

If a perfectly competitive industry uses only a small share of the available inputs in a resource market,then the long-run market supply curve for the industry will most likely be:

• A) vertical.
• B) horizontal.
• C) upward sloping.
• D) downward sloping.

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Definitions:

Shock

A critical condition brought on by a sudden drop in blood flow through the body, leading to organ failure and, if untreated, death.

Renal Disease

A broad category of conditions, disorders, and diseases affecting the kidneys' ability to function effectively.

Urine Specimens

Samples of urine collected for the purpose of medical testing or analysis.

Naturally Produced

Items or substances that occur in nature without human intervention, often implying organic or not synthetically made.