Graph (a) Graph (b) 0:0: 0.. o. o, 0, QUANTITY oummv :fer to Figure 14-7. If the market starts in equilibrium at point 2 in graph (b), a decrease in demand will ultimately lead to a. more firms in the industry but lower levels of output for each firm. i). lower prices once the new long-run equilibrium is reached. :. fewer firms in the market. :I. a new long-run equilibrium at point X in graph (b)