Why is the long run supply curve upward sloping?

When the demand for the good increases, the long-run result is an increase in the number of firms and in the total quantity supplied, without an~ change in the price. The result is a long-run market supply curve that is upward sloping, even with free entry into farming.Click to see full answer. Accordingly, why the supply curve is upward sloping?Firms need to sell their extra output at a higher price so that they can pay the higher marginal cost of production. The supply curve slopes upward, reflecting the higher price needed to cover the higher marginal cost of production.Likewise, why does supply curve slope upward from left to right? In most cases, the supply curve is drawn as a slope rising upward from left to right, since product price and quantity supplied are directly related (i.e., as the price of a commodity increases in the market, the amount supplied increases). A change in any of these conditions will cause a shift in the supply curve. Also know, why is the supply curve downward sloping? In a decreasing cost industry, the long run supply curve is downward sloping since as output increases and new firms enter, production costs decline. The computer industry is an example of a downward sloping supply curve, since as the number of computers produced increased, the price of inputs, such as chips, decline.What are the five shifters of supply?Supply shifters include (1) prices of factors of production, (2) returns from alternative activities, (3) technology, (4) seller expectations, (5) natural events, and (6) the number of sellers. When these other variables change, the all-other-things-unchanged conditions behind the original supply curve no longer hold.