Question 23 (4 points) 0 {1 o 0 Refer to the diagrams. which pertain to a purely competitive rm producing output q and the industry in which it operates. In the long run we should expect 0 a firms to leave the industry. market supply to rise. and product price to fall. 0 in firms to leave the industry. market supply to fall. and product price to rise. 0 c firms to enter the industry. market supply to rise, and product price to fall. 0 cl no change in the number of firms in this industry. Question 24 (4 points) MC ATC Price o o, a 6, Quantity Ifthe perfectly competitive rm depicted in this diagram produces output 0. it will 0 a earn a normal accounting profit, but not achieve productive, allocative, or distributive efciencies. O b Earn a normal accounting profit, and achieve productive. allocative. and distributive efficiencies. Time left for this assessment: 0 c achieve productive efficiency but not allocative or distributive efficiency. 124:01 0 d earn an economic prot