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Nonamiya [84]
2 years ago
7

In the long run, the competitive firm's supply curve is the a. entire marginal-cost curve. b. portion of the marginal-cost curve

that lies above the average-total-cost curve. c. upward-sloping portion of the average-total-cost curve. d. upward-sloping portion of the average-variable-cost curve. e. portion of the marginal-cost curve that lies above the average-variable-cost curve.
Business
1 answer:
Mars2501 [29]2 years ago
6 0

The long run will see the supply curve of a completive firm changing to the b. portion of the marginal-cost curve that lies above the average-total-cost curve.

<h3>What is the long-run supply curve in a perfect competition?</h3>

In a perfect competition, a company will only produce goods and services at a level where the marginal cost curve is above the average total cost in the long run.

This means that the supply curve will be the marginal cost curve but only the portion of this curve that is above the long-run average total cost curve.

The reason for this is that in the long-run., all the costs in a perfectly competitive firm are considered variable and so they can afford to avoid supply mishaps in the short term.

In conclusion, option B is correct.

Find out more on the long-run supply curve at brainly.com/question/15869064

#SPJ1

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Upply and demand
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6 0
3 years ago
Short-term price reductions that can be used to retaliate against a competitor's actions like introducing a new product are call
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Learn more about Short-term price here  brainly.com/question/16968866

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4 0
2 years ago
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Sveta_85 [38]

Answer:

They all help explain the downsloping demand curve

Explanation:

The options to the question wasn't provided. The complete question can be in the attached image.

The demand curve slopes downward from left to right. This indicates that the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

Income effect is a change in quantity demanded when real income change. Quantity demanded increases when real income increases and decreases when real income falls.

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I hope my answer helps you

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