Price MC Price 12 D 40 50 Quantity Quantity OOS'Z 000 2 Firm Industry Refer to Exhibit 8.10. which shows a competitive firm on the left panel and a competitive market on the right panel The movement along curve $ from point E to E in the right panel represents a) both an increase in the number of firms in the industry and an increase in each firm's output. b ) an increase in output supplied by each firm in the industry. an increase in total revenue of the representative firm from $8 to $12 O d) an increase in the number of firms in the industry. Oe) an increase in the cost of production for the firms in the market