A Technological Advance Occurs in a Perfectly Competitive Market

Multiple Choice

A technological advance occurs in a perfectly competitive market.Which of the following statements is incorrect?

A) All old-technology firms exit in the long run.
B) In the long run,all firms make zero economic profit.
C) The technological advance brings permanent gains to producers and temporary gains to consumers.
D) As more firms begin to use the new technology,market supply increases.
E) As more firms begin to use the new technology,the market price falls.