An Industry's Long-Run Supply Curve Shows

question 158

Multiple Choice

An industry's long-run supply curve shows

• A)the relationship in the long run between market price and quantity supplied.
• B)how the government determines the price of the product.
• C)how average productivity is changing.
• D)greater than normal profit.

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Definitions:

Human Resources

The department within an organization that is responsible for managing employee-related functions, including hiring, training, benefits, and compliance with labor laws.

Imitated

The act of copying or mimicking the actions, speech, or mannerisms of another person or entity, typically to learn from them or to achieve a similar outcome.

Free Consent

A principle in both ethics and law that indicates an agreement or decision is made voluntarily by all parties without any form of coercion or deceit.

Conceal

To hide something or prevent it from being known or observed; to keep something secret or out of sight.