Please see the attached24. Answer and explain your solution. Thanks.

Below is a graphical illustration of a typical rm operating in a monopolistlcally competitive industry: ATC rs F P-I P2 P1 I] 01 cells Refer to the graph above to answer this question. Which of the following will be a result of the situation illustrated in the graph above? Select one: C) a. The market demand curve will shift to the left. 0 b. The market demand curve will shift to the right. (hint: has something occurred to create a fundamental SHIFT in the demand curve?] C) c. The market supply curve will shift to the left. (hint: are rms actually leaving given the circumstances?) 0 d. The market supply curve will shift the right. (hint: what will new rms create ....}