Figure 14-12 (a) (b) Price Price C'% Quantity Quantity Refer to Figure 14-12. If the figure in panel (a) reflects the long-run equilibrium of a profit-maximizing firm in a competitive market, what does the figure in panel (b) most likely reflect? ' a) the idea that free entry and exit of firms in the market lead to only one market price in the long run b) the product of the individual supply curves for all firms in the market perfectly inelastic long-run market supply the fact that zere profits cannot be sustained in the long run