Which statement is true?
A, in an increasing-cost industry, a firm's long-run supply curve is perfectly elastic at the minimum of ATC, and the long-run industry supply curve is upward sloping.
B, in an increasing-cost industry, a firm's long-run supply curve is upward-slopikng, and the long-run industry supply curve is upward sloping.
C,, in an increasing-cost industry, a firm's long-run supply curve is upward-sloping, and the long-run industry supply curve is perfectly elastic at the minimum of ATC
A, in an increasing-cost industry, a firm's long-run supply curve is perfectly elastic at the minimum of ATC, and the long-run industry supply curve can be either perfectly elastic or upward sloing.