If economies of scale are relatively important in an industry, the typical firm's
marginal cost curve will decline continuously until it reaches minimum efficient scale.
long-run average cost curve will reach a minimum at a level of output that is a relatively large fraction of total industry sales.
long-run average cost curve will reach a minimum at a level of output that leaves room for a large number of firms to enter the industry.
long-run average cost curve will begin rising before it reaches minimum efficient scale.
long-run average cost curve will reach a minimum at a level of output that is a relatively large fraction of total industry sales.