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If the cost of production rises for all the firms in a perfectly competitive industry, which of the following statements would likely occur? A) The total profit increases

Economics

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If the cost of production rises for all the firms in a perfectly competitive industry, which of the following statements would likely occur?

A) The total profit increases.

B) The total revenue increases.

C) The marginal cost curve shifts downward.

D) Each firm will supply less output at any given price.