Respuesta :
As industry output contracts, each firm's long-run average total cost curve shifts upward is true for a decreasing-cost perfectly competitive industry.
In macroeconomics, an industry is a division of an economy that creates a group of commodities, services, or raw resources that are closely tied to one another. Industry classifications often employ a company's or group's major income source to categorize it inside a certain industry when assessing it.
Following that, industry is described as "a group of statistical units that fall under the same ISIC category." A single company need not, however, be confined to a particular industry, as is the case when a sizable corporation that is sometimes referred to as a conglomerate diversifies across many sectors.
Hence the correct option is D
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