SRATCH MC LRATC P, MC, MR, SRATC, LRATC 105 MC SRATCo SRATCA MC SRATC 80 MC/- - MC 62 SRATC, MC SRATC2 45 30 62,000 165,000 185,000 205,000 9 32,000 100,000 Suppose that the typical firm in this Perfectly Competitive industry is producing the profit maximizing/loss minimizing output level with plant SRATC1. Assume the market price is $30, in the long run we expect The market supply to shift left and the price to rise The market demand to shift left and the price to fall The market supply to shift right and the price to rise The market supply to shift right and the price to drop None of these answers is correct The market supply to shift left and the price to drop