The long-run supply curve is upward sloping in a(n)

Question

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In an increasing-cost industry, the production cost increases as output increases due to the limited availability of resources. As a result, the long-run supply curve is upward sloping because it represents the rising cost of production as firms try to expand their output in response to an increase in demand. In contrast, in a constant-cost industry, the production cost remains constant regardless of the output level, and in a decreasing-cost industry, the production cost decreases as output increases due to technological advancements, economies of scale, or resource abundance. The type of industry whether labor-intensive or capital-intensive is not relevant in determining the slope of the long-run supply curve.

The Long-Run Supply Curve Is Upward Sloping in A(n)