1) graph the firm's demand/MR curve for each market price the firm may confront (that is, $26, $32, $38, etc). At each market price, show the profit-maximizing rate of output for the firm (or loss-minimizing rate of output).This means creating 7 different graphs - each one with the same cost curves but a different market price.The only difference between the 7 different graphs is the market price the firm might confront and the point of intersection between MR and MC for each possible market price.Show the profit-maximizing/loss-minimizing rate of output for each market price.

2) plot the market demand and market supply curves for this industry.Be careful with the labeling of your x- and y- axes!Must be accurate!Show the market equilibrium price and quantity for the industry.Calculate the total profit/ loss for the industry, total profit/loss per firm and profit/loss per unit of output.

(2)~ (3)- Quantity Quantity supplied, Profit (+) Price supplied,~ single firm or loss (D)- 1500 firms $26- t. " $ -60 32+ -60 -55 416 LEtttet -39 500 -8 9,000 +63 10,500 66- +144 13,500t Total quantitye Price demanded $26- 17,000 15,000- 13,500 41- 12,000- 10,500 564 9,500- 66- 8,000