The following graphs represent the indistry demand and supply and a firm's demand and supply showing a short and long run responses on a shidt from petroleum gasolene to corn fuel (ethanol). The question is what will be the long-run equilibrium for the firm (Graph 2)

The long run qequilibrium of the firm will occur at: _________

a.

D1 = P1 = MR1

b.

PE1 = QE1 = MR 2

c.

P2 = D2 = MR2

d.

PE2 = QE2 = MR2