If the long-run supply curve is upward sloping, it indicates that resource prices fall when
A)production in the industry decreases in the long run.
B)production in the industry increases in the long run.
C)new firms enter the industry.
D)short-run profits in the industry are positive.

Question

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The Answer of If the long-run supply curve is upward sloping, it indicates that resource prices fall when
A)production in the industry decreases in the long run.
B)production in the industry increases in the long run.
C)new firms enter the industry.
D)short-run profits in the industry are positive.

If the Long-Run Supply Curve Is Upward Sloping, It Indicates