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The Short-Run Supply Curve for a Perfectly Competitive Industry Is

Question 66

Multiple Choice

The short-run supply curve for a perfectly competitive industry is:


A) downward sloping because of the law of diminishing marginal returns.
B) derived by summing the individual firms' marginal cost curves horizontally.
C) perfectly elastic in the case of homogeneous products.
D) the negatively sloped portion of the marginal cost curve.

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