Refer to the Diagrams, Which Pertain to a Purely Competitive

Multiple Choice

Refer to the diagrams, which pertain to a purely competitive firm producing output q and the industry in which it operates. The predicted long-run adjustments in this industry might be offset by

A) a decline in product demand.
B) an increase in resource prices.
C) a technological improvement in production methods.
D) entry of new firms into the industry.