\\{UUDLIUII 1' D [JLh Make the following statement correct by inserting the correct choice into the relevant square brackets: If the typical rm in a perfectly competitive market is making an economic loss, then because the barriers to entry & exit in this type of market are [high / low} , then other competing rms will {enter / exit) that market. As a consequence, the market supply curve will (increase / decrease] . The equilibrium market price will then be (higher / lower) . In the longrun, the typical remaining rms will be making (positive / zero} economic prots. The market is now considered to be in equilibrium because there is no longer an economic incentive for rms to enter or leave