If Economic Profits Were Present in a Competitive Price-Searcher Industry

If economic profits were present in a competitive price-searcher industry,

A) production inefficiency would develop, causing costs to increase until the profits had been eliminated.
B) firms would operate in the short run, but they would be forced out of business in the long run as competition eliminated the economic profit.
C) competition from new entrants would occur until the economic profits had been eliminated.
D) the firms would eventually find these profits offset by long-run economic losses.