Figure 16-3 A graph of Price, P, versus Quantity, Q, shows a straight line, M R, decreasing linearly from (0, 1200) to (45, 0), a second straight line, D, decreasing linearly from (0, 1200) to (52.5, 500), a curved line, M C, decreasing from (15, 500), then reaching a minimum at (24, 300), then increasing to (42, 1200), and a second curved line, A T C, decreasing from (15, 1050), then reaching a minimum at (36, 675), then increasing to (60, 1150). M R and M C intersect at (30, 400). M C and A T C intersect at (36, 675). Refer to Figure 17-3. Which of the following will occur in the long run in this industry? a. This firm will incur losses. b. Firms will exit this industry. c. This firm will continue to earn positive economic profits. d. Firms will enter this industry