2) Table 9.1 shows the cost structure for a perfectly competitive rm ofwhiell there are a total of 100 in the industry Table 9.1 and Table 9.2 shows the market demand and market supply schedules. a) What is the equilibrium price? At this price what quantity will the rm produce? 13) Is the perfectly competitive firm earning an economic prot or loss lll the shown? How much? c) In the long run, what is the economic profit of the competitive rm? (I) W' hat will the equilibrium price and quantity traded in the long run? e) \"What quantity will the firm produce in the M? f] How many firms will exist in the M? g) Is the representative perfectly competitive rm achieving efficiency\