Use the Following to Answer Question(s)

Multiple Choice

Use the following to answer question(s) :
Exhibit: Profit Maximizing

-(Exhibit: Profit Maximizing) The exhibit shows cost curves for a firm operating in a perfectly competitive market. If the market price is P₄:

A) firms will leave the industry and the price will fall in the long run.
B) there will be economic profits and firms will enter the industry in the long run.
C) the market supply curve will shift to the left and price will fall in the long run.
D) the firm will continue producing q₃ and will continue to make economic profits in the long run.