The new equilibrium price and quantity suggest that the shape of the long-run supply curve in this industry is horizontal.
In astronomy, geography, and related sciences and contexts, a direction or plane passing through a particular point is said to be perpendicular if that point contains the local direction of gravity. Conversely, a direction or plane is said to be horizontal if it is perpendicular to the vertical. In general, vertical objects can be drawn from top to bottom (or bottom to top). B. The y-axis of the Cartesian coordinate system.
A horizontal line is a line that runs from left to right. When you watch the sunrise over the horizon, you see the sun rise above the horizon. The x-axis is an example of a horizontal line.
Learn more about horizontal here: https://brainly.com/question/25705666
#SPJ1
