Suppose a good is produced by a competitive industry. The firms that make the good aremaking a profit in the current short run. What would a model of long run competitionpredict would happen?Select one:O a$.$ Prices will be lower in the long run than the short run. There will be more firms inthe long run than in the short run.O b$.$ Prices will be lower in the long run than the short run. There will be fewer firms inthe long run than in the short run.O c$.$ Prices will be higher in the long run than the short run. There will be more firms inthe long run than in the short run.O d$.$ Prices will be higher in the long run than the short run. There will be fewer firms inthe long run than in the short run.