Drawing the Long-run Market Supply Curve

Each point on the long-run supply curve shows the quantity of rakes supplied at a particular price (i.e., at a price of $12, 100 firms produce 700 rakes).

The long-run industry supply curve is positively-sloped for an increasing cost industry.

Each point on the long-run supply curve shows the quantity of rakes supplied at a particular price (i.e., at a price of $12, 100 firms produce 700 rakes).