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 That