Business, 05.04.2021 23:50, caldonjoshhsms2061

What is meant by term in production

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Business, 22.06.2019 16:00, angelinaranee15

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.

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What is meant by term in production
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