Assume that a perfectly competitive firm is in long-run equilibrium. If industry (market) demand for the product increases, how will this firm's price, output, and profit change in the short run?

Answer Options:

a) (Price = Increase)

(Output = Increase)

(Profit = Increase)

b) (Price = No Change)

(Output = Decrease)

(Profit = Decrease)

c) (Price = Increase)

(Output = Decrease)

(Profit = Decrease)

d)

(Price = Increase)

(Output = Increase)

(Profit = Decrease)

e) (Price = Decrease)

(Output = Increase)

(Profit = Increase)