If Competitive Industry Y Is Incurring Substantial Losses, We Can

Multiple Choice

If competitive industry Y is incurring substantial losses, we can expect that output will:

A) expand, product price will rise, and losses will tend to disappear.
B) contract, product price will fall, and losses will increase.
C) contract, product price will rise, and losses will tend to disappear.
D) expand, product price will fall, and losses will tend to disappear.