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.
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Answer:
Income statements and or Cash flow statements.
Explanation:
Income statement and Cash flow statements are required.
Income Statement will give us insight about our costs as we maybe recording sales but if the costs and expenses are too high we are unlikely to be making enough gross profits to be able to pay bills.
Cash flow statements are required as sales may be credit and thus reducing working capital for the company, although they may be making profits but if the debts are uncollected they are unlikely to have cash available to be able to make payments.
Hope that helps.
Small businesses are actually the major engine of the economy, especially
now that much of our manufacturing jobs have moved overseas, so they
play a crucial role in employment.
