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allochka39001 [22]
4 years ago
14

For a perfectly competitive industry with identical firms, the long-run industry supply curve is: perfectly elastic. horizontal.

based on minimum average costs. All of these are characteristics of the long-run supply curve.
Business
1 answer:
siniylev [52]4 years ago
4 0

Answer:

All of these are characteristics of the long-run supply curve.

Explanation:

In the long run supply curve shape is dependent on wether the industry is a constant cost industry, a decreasing cost industry, or an increasing cost industry. It can be horizontal, upward sloping, or downward sloping.

In constant cost market price remains constant with increasing output. Supply curve is horizontal.

In decreasing cost industry supply curve is sloping downward and cost reduces with output.

In increasing cost industry supply curve is upward sloping and cost increases with increased output.

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Answer:

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Explanation:

Retail banking is a banking system that deals directly with retail consumers. Retail banking is responsible for providing financial aid to the general population. The major function of retail banking includes providing financial aid, checking and savings accounts.

Business banks, on the other hand, are also a part of the banking industry. It specifically deals with corporates and businesses, ranging from small-sized businesses to large-sized corporates. The major function of corporate banking or business banking is also to provide financial aid, checking and savings accounts.

Therefore, option C is the correct answer.

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