What is true about the industry supply curve for a perfectly competitive industry in the long...

 

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What is true about the industry supply curve for a perfectly competitive industry in the long run? O a) It's more elastic than the industry supply curve in the short run Ob) It's less elastic than the industry supply in the short run O c) It's always a vertical line d) None of the above What is true about the industry supply curve for a perfectly competitive industry in the long run? O a) It's more elastic than the industry supply curve in the short run Ob) It's less elastic than the industry supply in the short run O c) It's always a vertical line d) None of the above

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The detailed answer for the above question is provided below The correct answer is b Its less elasti... View the full answer