Which of the following is true?
A.The long-run industry supply curve relates the price of a good or service to the quantity produced after all adjustments to a price change have been made.
B.Every point on a long-run industry supply curve shows a price and quantity supplied at which firms in the industry are earning positive economic profit.
C.In establishing the long-run industry supply curve, factor costs and the number of firms are held constant.
D.In perfectly competitive industries, the long-run supply curve is always horizontal.

Question

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The Answer of Which of the following is true?
A.The long-run industry supply curve relates the price of a good or service to the quantity produced after all adjustments to a price change have been made.
B.Every point on a long-run industry supply curve shows a price and quantity supplied at which firms in the industry are earning positive economic profit.
C.In establishing the long-run industry supply curve, factor costs and the number of firms are held constant.
D.In perfectly competitive industries, the long-run supply curve is always horizontal.

Which of the Following Is True