perfectly competitive increasing costincreasing cost industry is in long-run equilibrium. Due to a change in tastes and preferences, there is a decreasea decrease in demand. Which of the following best describes the effect on the industry? The price will Part 2 A.decrease comma firms will produce more comma profits will decrease comma and more firms will enter until profit returns to zero. decrease comma firms will produce more comma profits will decrease comma and more firms will enter until profit returns to zero.decrease, firms will produce more, profits will decrease, and more firms will enter until profit returns to zero. B.decrease comma firms will produce less comma profits will be below zero comma and firms will exit until profit returns to zero. decrease comma firms will produce less comma profits will be below zero comma and firms will exit until profit returns to zero.decrease, firms will produce less, profits will be below zero, and firms will exit until profit returns to zero. C.decrease comma firms will produce less comma profits will increase comma and more firms will enter until profit returns to zero. decrease comma firms will produce less comma profits will increase comma and more firms will enter until profit returns to zero.decrease, firms will produce less, profits will increase, and more firms will enter until profit returns to zero. D.increase comma firms will produce more comma profits will increase comma and more firms will enter until profit ret