Suppose that some firms in a perfectly competitive industry are earning positive economic profits.In the long run,the:

A) industry is in equilibrium.
B) industry supply curve will shift to the left.
C) number of firms in the industry will not change.
D) number of firms in the industry will increase.

Economic Profits

The financial gains that exceed the opportunity costs of a business's resources, considering both explicit and implicit costs.

Perfectly Competitive

A market structure characterized by a complete absence of rivalry among firms, where all firms sell identical products and no single firm can influence the market price.

Industry Supply Curve

A graphical representation that shows the quantity of goods that producers are willing and able to sell at different price levels in a specific industry.