If firms enter a purely competitive industry, then in the long run this change will shift the industry: supply curve to the right, and the individual firm's demand curve will shift down.
A purely competitive industry is an industry where they are numerous buyers and sellers of identical goods and services. There are no barriers to entry and exit of firms into the industry. Prices are set by the market forces.
In the long run, if firms enter into the purely competitive industry, there would be an increase in supply. This would shift the supply curve to the right. As a result of the increase in supply, there would be be a fall in price. When price falls, the quantity demanded would increase. The individual firm's demand curve would shift down.
Please find attached an image depicting an increase in supply. To learn more, please check:https://brainly.com/question/14266883
