Question 3 5.68 p MC LRAC ATC P=MR 8 8 6 8 8 8 2 Price ($ per square foot) 10 0 200 400 600 800 1000 1200 1400 Suppose that the industry continues to operate under conditions of perfect competition and tha the cost curves do not shift, in the long run this perfectly competitive firm will produce: 800 units because entry from new firms will push down the market price to $50 800 units because the exiting of firms will push down the market price to $50 0 800 units because this is where the fixed costs are minimized 1000 units because this is where profits are maximized OLDE CO LUO