A Firm's Long-Run Average Cost Curve Is Increasing as Output

Multiple Choice

A firm's long-run average cost curve is increasing as output increases over all levels of output. As a result

A) small firms and large firms will have identical average costs.
B) there should be only one firm in the industry.
C) small firms would have higher average costs of production than large firms.
D) there should be more than one firm in the industry.