These diagrams, pertain to a perfectly competitive firm producing output q and the industry in which it operates. In the long run we should expect: MC ATC AVC MR P Q O no change in the number of firms in this industry. O firms to leave the industry, market supply to fall, and product price to rise. O firms to leave the industry, market supply to rise, and product price to fall. firms to enter the industry, market supply to rise, and product price to fall. P.

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A:

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