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3. Suppose the market price in this industry is $2 per barrel. a) What is the prot-mmdmizing quantity? How much prot is earned? 4. Given

3. Suppose the market price in this industry is $2 per barrel. a) What is the prot-mmdmizing quantity? How much prot is earned? 4. Given your answers from #1 through #3, roughly sketch the supply curve for your rm. 5. Assuming there were a total of 20 Beef Soda producing rms in this market, all with the exact same cost information given above, also sketch the market supply curve in this industry

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