[Solved] The Following Graph Shows the Costs and Revenues of a Typical

Question 26
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The following graph shows the costs and revenues of a typical firm operating in a monopolistically competitive industry.
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-Refer to the graph above to answer this question.Which of the following will be the result of the situation illustrated in the graph?


A)New firms will enter the industry and this will shift the market supply curve to the right.
B)New firms will enter the industry and this will shift the market supply curve to the left.
C)Some firms will exit from the industry and this will shift the market supply curve to the right.
D)Some firms will exit from the industry and this will shift the market supply curve to the left.
E)Long run equilibrium has been achieved and no new entry or exit of firms will occur.

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