Answer:
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.
