Question
A long-run supply curve is flatter than a short-run supply curve because
A. firms can enter and exit a market more easily in the long run than in the short run.
B. long-run supply curves are sometimes downward sloping.
C. competitive firms have more control over demand in the long run.
D. firms in a competitive market face identical cost structures.
A. firms can enter and exit a market more easily in the long run than in the short run.
B. long-run supply curves are sometimes downward sloping.
C. competitive firms have more control over demand in the long run.
D. firms in a competitive market face identical cost structures.