Which of the following are CORRECT statements regarding perfect competition in the economic long run? Select ONLY THOSE THAT APPLY. Select 2 correct answer(s) if a perfectly competitive market is in equilibrium and then demand for a product increases permanently, the market price will rise, and new firms will enter the market. O Firms will enter the market in the long run if price is less than average total cost. V New technology reduces the cost of production, so in the long run, firms that adopt the new technology will have to exit the market. New technology reduces the cost of production, so in the long run, the market price of goods and services associated with the new technology decreases