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Unlike the short run market supply curve the long run industry supply curve does not hold factor costs and the number of firms unchanged. The amount that is produced by each individual firm is subject to its optimal level of production. Supply Curve Of A Firm And Industry With Diagram If the pr…

23 6 under perfect competition. Their demand curve is perfectly elastic. Perfect Competition In The Long Run Free response and multiple choice questions. Perfect competition long run graph . Perfect competition in the long run. In the long run firms in perfect competition will make normal profi…