Q Question 1 1 / 1 pts Refer to the graphs above for a purely competitive market in the short run. The graphs suggest that in the long run, assuming no changes in the given information: Question 2 1 / 1 pts Refer to the graphs above for a purely competitive market in the short run. The graphs suggest that in the long run, assuming no changes in the given information, the market: Question 3 1 / 1 pts Refer to the diagrams, which pertain to a purely competitive firm producing output q and the industry in which it operates. In the long run we should expect Question 4 1 / 1 pts Refer to the above graph. It shows the cost curves for a competitive firm. If the market price falls to $0.55, the optimal output rate is: Question 4 1 / 1 pts Refer to the above graph. It shows the cost curves for a competitive firm. If the market price falls to $0.55, the optimal output rate is: Question 5 1 / 1 pts Refer to the above graphs for a competitive market in the short run. Which of the following statements is true?