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Due to high demand and high prices, profits in the carpet-painting industry are at all-time highs. Since the carpet-painting industry is perfectly competitive, this will cause firms to(Click to select)celebratemergeenterexitin the long run.

You observe high profits in the perfectly competitive pencil eraser industry. In the long run, you expect those profits to(Click to select)attract more customersrisefallstay the same.