When firms exit a market, the causing individual firms’ profits to

short-run market supply curve shifts right; increase
short-run market supply curve shifts left; increase
long-run market supply curve shifts right; decrease
short-run market supply curve shifts left; decrease

Long run supply curve shifts to the left; decrease

Explanation:

In the short run, if firms are making economic loss, in the long run, they exit the industry. Firms cannot exit the industry in the short run because in the short run most factors of production are fixed.

When firms exit the industry, the quantity supplied falls and the supply curve shifts to the left. Because of the fall in supply, prices rise, revenue and profit rise all things being equal.

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