Stable velocity of money is crucial component of the

Which of the following is a positive, as opposed to a normative, statement?

a. The US Department of Justice should allow a merger between AT&T and T-Mobile because it would have little effect on consumers. b. Antitrust laws should be used to prevent further concentration in the wireless telephone service market. c. The US Department of Justice sued AT&T to block its merger with T-Mobile. d. The wireless telephone service market is too highly concentrated.

What is the relationship between the long-run industry supply curve and the short-run supply curve in a perfectly competitive market?

What will be an ideal response?