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Supply Curve in the Short Run and the Long Run

The long-run ...

Question

The long-run marginal cost curve of a firm is its supply curve for the long run. State true or false.

A

True

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B

False

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Solution

The correct option is B
False

The long-run supply curve of a firm is the portion of the long-run MC curve above the LRAC curve. Hence, the given statement is false.

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