The bicycle industry is made up of 100 firms with the long-run cost curve c(y) = 2 + (y₂/2) and 60 firms with the long-run cost curve c(y) = y₂/10.No new firms can enter the industry.What is the long-run industry supply curve at prices greater than $2?

A) y = 420p.
B) y = 400p.
C) y = 200p.
D) y = 300p.
E) y = 435p.

Long-Run Cost Curve

A graphical representation showing the lowest cost at which any given level of output can be produced in the long run, where all inputs are variable.

Industry Supply Curve

A graph that shows the quantity of goods that producers are willing and able to sell at different price levels in a specific industry.