[Figure A] Assume that a competitive industry is at equilibrium with the industry supply curve S1. Multiple new firms then see an opportunity and enter the market increasing supply to S2. Which of the following statements would describe the short-term result of this situation?

A. Prices would increase to Po

B. Seeing the opportunity even more firms would enter the market pushing market output even higher

C. The market price will shift below the minimum average total cost curve causing some firms to fail

D. Customers would be overwhelmed by all of the new choices and reduce consumption out of indecision.

Gt III: q. qu Quantity Market Firm Figure A: Market Changes and Firm Costs {P9, P1, and P2 are the same values. in both the Market and Firm sides nfthe Figure]