Use the following information.

1. Pay employee salaries of $530 by issuing checks.
2. Purchase computer equipment of $930 using a credit card.
3. Pay for maintenance of $330 for a company vehicle using a debit card.

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.