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Applicapability in supply in the long run

Problem: Which of the following applies most generally to supply in the long run?

1. Average cost must decline.

2. Sellers are able to make adjustments in all of their factors of production.

3. Sellers are only able to make adjustments in their variable factors of production.

4. All original sellers will leave the market.

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Microeconomics: Applicapability in supply in the long run

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Solution Preview :

Prepared by a verified Expert

Microeconomics: Applicapability in supply in the long run

Reference No:- TGS01749770

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Develop marketing strategies for nonprofit organizations

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Solution Preview :

Prepared by a verified Expert

Microeconomics: Applicapability in supply in the long run

Reference No:- TGS01749770

Recent Questions Asked Microeconomics

Q : Develop marketing strategies for nonprofit organizations

Q : Organizational culture analysis

Q : Write down the firms cost minimization problem

Q : Basic resource or factor of production

Q : Applicapability in supply in the long run

Q : Collaborative learning community

Q : Rate of high school drop outs-production possibilities curve

Q : Microsoft earn short run economic profits

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