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If the figure in panel a reflects the long-run equilibrium of a profit-maximizing firm

If the figure in panel (a) reflects the long-run equilibriumof a profit-maximizing firm in a competitive market, the figure inpanel (b) most likely reflects
 
Image for If the figure in panel (a) reflects the long-run equilibriumof a profit-maximizing firm in a competitive markeImage for If the figure in panel (a) reflects the long-run equilibriumof a profit-maximizing firm in a competitive marke
 
A. perfectly inelastic long-run market supply.
B. the idea that free entry and exit of firms in the market lead to only one market price in the long run.
C. the product of the infividual supply curves of all firms inthe market.
D. the fact that zero profits cannot be sustained in the longrun.

 

Jun 02 2018 Read more Less More

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