If all firms in a market have identical cost structures and if inputs used in the production of the good in that market are readily available, then the long-run market supply curve for that good should be ?

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Firms in perfect competition face a?

A. perfectly elastic demand curve B. perfectly inelastic demand curve C. perfectly elastic supply curve D. perfectly inelastic supply curve...

In marketing “USP” stands for ?

A. Unique Selling Proposition B. Underlying Sales Proposition C. Unit Sales Point D. Under Sales Procedure...

In perfect competition ?

A. A few firms dominate the industry B. Firms are price makers C. There are many buyers but few sellers D. There are many buyers and sellers...

Which of the following is not a characteristic of a competitive market ?

A. All of these answers are characteristic of a competitive market B. The are many buyers and sellers in the market C. The goods offered for sale are largely the same. D. Firms generate small but positive economic profits in the long run E. Firms can freely enter or exit the market...

When average cost is falling marginal cost is ________ and when average cost is rising marginal cost is?

A. greater than average cost, greater than average cost B. less than average cost, greater than average cost C. less than average cost, less than average cost D. greater than average cost, less than average cost...