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The shape of the long run supply curve in perfect competition is determined by factors such as technology, input prices, and economies of scale. These factors influence the ability of firms to produce goods efficiently and at different levels of output, which in turn affects the overall shape of the supply curve.

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5mo ago

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factors which determine money supply is: open market operations, variable money supply bank rate policy.


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The question doesn't provide any curve, because that's impossible on Answers.com. However it's easy to determine the equilibrium wage in a perfectly competitive market by equating the market demand for labour with the market supply of labour.


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?Perfect competition in a resource market means that there aremany small buyers of the resource, and that none can influencethe market. The supply curve is identical to the marginalresource cost curve (MRC), and is horizontal. The wage is givendirectly by the intersection of the supply line and MRP curve(which is the demand for labor).Graph G-MIC9.1