If a Perfectly Competitive Industry Uses a Large Proportion of the Available

question 86

Multiple Choice

If a perfectly competitive industry uses a large proportion 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.
• E)concave to the horizontal axis.

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Definitions:

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A concept in evolutionary biology describing the mechanism by which organisms better adapted to their environment tend to survive and produce more offspring.

Short Answer

A method of response in exams or surveys that requires a brief and direct explanation or fact.

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groups responsible for ensuring that research and professional practices are conducted ethically, often reviewing proposed studies to protect participants' rights and welfare.