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.

the answer is either "loser" or "dumb*ss"

gods, i'm only joking, don't ban me.*

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

                                          hope it