Q
For a competitive firm, its short run supply curve is ______ and its long run supply curve is _____?
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A
A. Smc, lmc
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B
B. Smc above savc, lmc above lac
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C
C. Smc below savc, lmc above lac
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D
D. Smc below savc, lmc bellow lac
Correct Answer:
B. B. Smc above savc, lmc above lac