Figure: the Profit Maximizing Firm

Figure: The Profit Maximizing Firm
(Figure: The Profit Maximizing Firm) Look at the figure The Profit Maximizing Firm.The figure 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 produce q4.