For the purely-competitive cranberry market, as in below figure there Curve H is: (i) industry’s long-run supply curve. (ii) firm’s demand curve in the short run. (iii) industry’s marginal cost curve. (iv) firm’s long run marginal cost curve.
![500_demand and supply.png](https://secure.tutorsglobe.com/CMSImages/500_demand%20and%20supply.png)
Can anybody suggest me the proper explanation for given problem regarding Economics generally?