The graph to the right shows the Marginal Cost (MC), Average Total Cost (ATC), and Marginal Revenue (MR) curves for a perfectly (or purely) competitive firm. Note that the Demand (D) curve is the same as the MR curve for such a firm. Assume that the cost curves here are representative of other firms in the industry. Given the current price, this firm will: earn a positive profit, earn zero economic profit, earn a negative profit. In the long run, this market will: experience entry of additional firms. experience exit by some firms. What is going to happen to the price of this product? It will decline. It will stay the same. It will increase.