-Figure 9-12 Shows Three Possible Long-Run Supply Curves for an Industry

-Figure 9-12 shows three possible long-run supply curves for an industry that is currently in equilibrium with price (P*) and quantity (Q*) .Which of the following statements is correct?

A) The long-run supply curve would be F for a decreasing-cost industry,H for an increasing-cost industry,and G for a constant-cost industry.
B) All three long-run supply curves indicate that the firms' LRATC curves shift as industry output expands.
C) If the industry uses a significant portion of a scarce input,the long-run supply curve would likely be curve H.
D) An industry that moves along long-run supply curve F earns above-normal profits in the long run.
E) If an increase in market output leads to lower prices for a key input,the long-run supply curve would likely be curve H.

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