dustry Y is a perfectly competitive industry. Assume that as a result of changes in other 12) arkets there is a twenty percent increase in the price of variable inputs used by rms in dustry Y. After all adjustments have taken place, we w0uld expect the equilibrium price in dustry Y to: A) increase and the number of firms to increase. B) decrease and the number of firms to increase. C) increase and the number of firms to decrease. D) decrease and the number of firms to decrease