Register
when some resources used in production are only available in limited quantities, it is likely that the long-run supply curve in a competitive market is
17.5k views
4 votes
when some resources used in production are only available in limited quantities, it is likely that the long-run supply curve in a competitive market is

User Spectric
by
3.1k points

1 Answer

1 vote

Answer: The correct option therefore is > upward sloping

Step-by-step explanation:

When resources are limited in quantity, the cost of production would increase. Hence, in the long run, the supply curve will be upward sloping.

User Dustin Currie
by
3.5k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

3.5m questions

4.5m answers

Other Questions

How can expansionary​ expenditure-based fiscal policy lead to crowding out in the​ economy? A. ​Expenditure-based fiscal policy increases the national​ debt, inducing​ forward-looking households and firms
Stevenson Company purchased equipment for $250,000 on January 1, 2010. The estimated salvage value is $50,000, and the estimated useful life is 5 years. The straight-line method is used for depreciation.
In order to attract younger customers to the Lacoste brand of clothing, CEO Robert Siegel made all of the major decisions in product planning, distribution, and promotion. He asked for no input from his
Andrew doesn’t want to spend a lot of money on student loans, and does not qualify for grants. what is his best option for affording a bachelors degree
The method of appraisal in which the appraiser estimates the replacement cost of the building, deducts depreciation, and adds the value of the site is:________
Link Copied!