What is the shape of the long-run supply curve in an increasing-cost industry?

Question

Quizplus · Accepted Answer

In an increasing-cost industry, as production increases, the costs of production also increase. This is due to the limited availability of resources, which become more expensive to acquire as demand for them increases. As a result, the long-run supply curve in an increasing-cost industry is upward sloping, indicating that as the price of the good increases, firms will be willing to supply more output to market, but at a higher cost.

What Is the Shape of the Long-Run Supply Curve in an Increasing-Cost