diagrams, which pertain to a purely competitive firm producing an output of 80 units and with the price of $9 in the industry in which it operates. In the long-run, we should expect: A graph showing three U-shaped cost curves: MC, AVC, and ATC; and a horizontal line showing P=MR=AR at $9. AVC is at a minimum of $5.50 when the output is 64 units. ATC is at the minimum of $10 when the output is 86 units. P=MR=AR at $9 intersects with MC at 80 units of output where AVC is $6 and ATC is $10. Group of answer choices price to decrease Supply to increase Price to increase Entry of firms eliminating economic profits