The shape of the long-run industry supply curve in a perfectly competitive industry is largely determined by:

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The shape of the long-run industry supply curve in a perfectly competitive industry is largely determined by the price of inputs as the industry expands. If input prices increase as output increases, the long-run supply curve will be upward sloping. If input prices remain constant, the long-run supply curve can be perfectly elastic (horizontal).

The Shape of the Long-Run Industry Supply Curve in a Perfectly