A perfectly competitive market is initially in long$-$run competitive equilibrium. Then, market demand increases. As a result, existing firms in the market begin to $\_\_\_\_\_\_\_\_\_\_.$ By the time all adjustments have been made, profits will $\_\_\_\_\_\_\_\_\_\_.$

Group of answer choices

earn positive economic profit, rise even higher

earn positive economic profit; be back at zero

produce more output; be less than zero

produce less output; rise

earn positive economic profit; turn into losses,

Answer rating: 100% (QA)

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