Use the Following for Questions 22-31

question 135

Multiple Choice

Use the following for questions 22-31.
Exhibit: Profit Maximization in Monopolistic Competition

-(Exhibit: Profit Maximization in Monopolistic Competition) If other firms see economic profits in the industry, they will enter it, and the demand curve for firms already in the industry will shift to the ________ ; in the long run, this will result in economic profit _______ and price _______ .

• A) right; = 0; = ATC; = minimum ATC
• B) right; > 0; > ATC
• C) left; < 0; < ATC
• D) left; = 0; = ATC; > minimum ATC