The long-run supply curve under pure competition will be:
A. Downward-sloping in a decreasing-cost industry and upward-sloping in an increasing-cost industry
B. Horizontal in a constant-cost industry and downward-sloping in an increasing-cost industry
C. Vertical in a constant-cost industry and upward-sloping in a decreasing-cost industry
D. Upward-sloping in an increasing-cost industry and vertical in a constant-cost industry
A. Downward-sloping in a decreasing-cost industry and upward-sloping in an increasing-cost industry
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a. True b. False Indicate whether the statement is true or false