uppose a typical competitive firm has the following data in the short run: price $8; output 100 units; ATC=$11; AVC-50. What will likely happen? A. In the long run, the industry will shut down because of negative accounting profits. B. In the long run, the industry will contract because firms are suffering losses C. In the long run, the industry will expand because of economic profits. D. The size of the industry will remain the same in the long run.