explain why is the long run market supply curve horizontal in long run in perfect competitive market?

Q: 19. Refer to the following diagrams which pertain to a purely competitive firm producing output q…

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A:

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A: Answer- Given in the question- A perfectly competitive market has a demand curve given by the…

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A: Hi Student, thanks for posting the question. As per the guideline we are providing answers for the…

Q: 1. Draw short-run firm and industry competitive equilibriums for a perfectly competitive…

A: A perfectly competitive market is where there are a lot of buyers and sellers. The industry’s…

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A: Perfect competition is a benchmark, or "ideal market," to which real market designs can measure up.…

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A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Why is a firm in a perfectly competitive market called a price taker? Why do the price, MR and…

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Q: t competition, in the short run there is insufficient time for new firms to enter the Industry which…

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Q: Answer the following, providing a graphical illustration along with your answer where necessary: a)…

A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost…

Q: State what market structure exists in the hotel industry in Jamaica during the 1990s. Can excess…

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Q: Suppose the price determined by the market is 4.5. Assume a perfectly competitive industry. Show all…

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Q: C. Given the data below. 1. Draw the corresponding TC curve TC 20 60 40 80 60 100 80 130 100 240 2.…

A: Disclaimer :- As you posted multipart questions we are supposed to solve the first 3 questions only…

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Q: please answer parts e, f, and g

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Q: Short Questions: 1. What are the three conditions for long-run equilibrium for a firm in perfectly…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: xplanations.

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Q: 3. Illustrate short run supply curve for a perfectly competitive firm and derive market supply…

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Q: A. If a firm operating in a perfectly competitive market doubles the amount it sells, what happens…

A: a) Firms are price taker in perfectly competitive market. So, when the firm doubles the amount it…

Q: The graph attached illustrates the Demand, Marginal Revenue, Marginal Costs, Average Total Costs and…

A: Answer in step 2

Q: These diagrams, pertain to a perfectly competitive firm producing output q and the industry in which…

A: Answer:- (B) Firms to leave the industry, market supply to fall, and product price to rise.

Q: -run equilibrium in a perfectly competitive market, firms earn positive economic profits.   Is…

A: A perfect competition is where there is free market entry for the firms. If the firm earns profits…