Which of the statements is true of the long‑run industry supply curve (LRIS)? External diseconomies result in an increasing cost industry and a horizontal LRIS curve. External economies result in an increasing cost industry and a downward sloping LRIS curve. External economies result in a decreasing cost industry and a downward sloping LRIS curve. Internal diseconomies result in an increasing cost industry and an upward sloping LRIS curve.

The correct answer is External economies result in a decreasing cost industry and a downward sloping LRIS curve.

Explanation:

Solution:

From the given question stated, the best statement that sis true of the long‑run industry supply curve (LRIS) is, because of external economies of scale, a larger or bigger quantity of the product is offered at a lower price which is a decreasing/reducing cost industry with an exception to the Law of Supply),the industry supply curve is downward sloping.

enlightenment impacted society by introducing the idea that mankind could use reason to discover the laws of the world and the rights of mankind. these ideals affected all factions of society, from politics to religion.

c

explanation: