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Pick ALL assumptions that need to be held to ensure a perfecly elastic long-run supply curve for corn in the corn indust
Posted: Sun Jul 03, 2022 3:42 pm
by answerhappygod
- Pick All Assumptions That Need To Be Held To Ensure A Perfecly Elastic Long Run Supply Curve For Corn In The Corn Indust 1 (50.26 KiB) Viewed 13 times
Pick ALL assumptions that need to be held to ensure a perfecly elastic long-run supply curve for corn in the corn industry. The same technology is available to all firms. The marginal cost is greater than the average total cost at every quantity level. Input prices do not change as the industry expands. There are no barriers to entry or exit in the industry. The supply curve has unit elasticity.