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A Long-Run Supply Curve That Is More Elastic Than a Short-Run

Question 155

Multiple Choice

A long-run supply curve that is more elastic than a short-run supply curve results from which of the following circumstances?


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

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