Answer the question on the basis of the following demand and cost data for a specific firm.   Demand Data Cost Data (1) Price (2) Price (3) Quantity Total Output Total Cost $ 55 $ 35 2 2 $ 45 50 30 3 3 55 45 25 4 4 70 40 20 5 5 90 35 15 6 6 115 30 10 7 7 145 25 5 8 8 180   Suppose that entry of firms into the industry changes this firm's demand schedule from columns 1 and 3 to columns 2 and 3. Maximum economic profit will   Multiple Choice   decrease by $75.   decrease by $15.   decrease by $35.   decrease to zero

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