In a Competitive Market Characterized by Increasing Costs,the

Multiple Choice

In a competitive market characterized by increasing costs,the

A) long-run industry supply curve gives the minimum long-run average cost of production at various levels of industry output.
B) long-run industry supply curve gives the long-run marginal cost of production at various levels of industry output.
C) long-run industry supply curve is upward sloping.
D) both a and b
E) all of the above