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The Long-Run Supply Curve for a Purely Competitive Industry Would

Question 90

Multiple Choice

The long-run supply curve for a purely competitive industry would be horizontal when


A) an increase in product demand causes an increase in resource prices.
B) an increase in product demand causes a decrease in resource prices.
C) a decrease in product demand causes a decrease in the number of firms.
D) a decrease in product demand has no effect on resource prices.

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