In a constant cost industry, the long run market supply curve and the long run firm supply curve are both upwards sloping.

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In a constant cost industry, the long run market supply curve is perfectly elastic (horizontal) and the long run firm supply curve is also perfectly elastic at the minimum point of the average cost curve. This means that any increase in market demand results in an increase in industry output rather than a change in price, and individual firms can increase output without affecting the market price. Thus, both the long run market supply curve and the long run firm supply curve are horizontal (perfectly elastic). In a constant cost industry, the long run market supply curve is perfectly elastic (horizontal), and the long run firm supply curve is also horizontal at the market price. Neither of them are upward sloping.

In a Constant Cost Industry, the Long Run Market Supply