If New Firms Enter a Perfectly Competitive Industry, the

Multiple Choice

If new firms enter a perfectly competitive industry, the

A) market supply curve will shift to the left, market price will fall, and industry output will increase
B) market supply will shift to the left, market price will rise, and the industry output will increase
C) market demand will shift to the right, market price will increase, and market output will increase
D) market supply will shift to the right, market price will fall, and market output will increase
E) market supply will shift to the right, market price will increase, and market output will decrease