Asked by Dorthie Brown on May 01, 2024
Verified
Label the long-run supply curve.
Long-Run Supply
The time period in which all factors of production and costs are variable, allowing firms to fully adjust to market conditions.
Curve
In economics, this refers to a graphical representation depicting the relationship between two variables, such as supply and demand.
- Identify and label long-run and short-run supply curves.
Verified Answer
ZK
Learning Objectives
- Identify and label long-run and short-run supply curves.
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