Which statement is true?

A) In the market period,industry supply is either perfectly elastic or very elastic.
B) In the short run,an increase in demand can lead to an increase in a firm's output.
C) In the market period,an increase in demand will lead to an increase in the firm's output.
D) Supply is less elastic in the long run than in the short run.

Market Period

A very short period of time in which the supply of a good is fixed, typically because the time frame is too short to alter production.

Industry Supply

The total quantity of a good or service that producers in an industry are willing and able to sell at different price levels.

Firm's Output

The total quantity of goods and services produced by a company over a particular period.