Which of the followings is FALSE about the short-run supply curve for an individual price-taking firm? The short-run supply curve is the portion of the firm s marginal cost curve above minimum average variable cost. THE short-run supply curve can be obtained by horizontally summing the supply curves of all the individual firms in the industry. Short-run industry supply is always upward sloping. Supply prices along the industry supply curve give the average costs of production for every firm contributing to industry supply