5. (20 points] The graphs below show the market demand, market supply and short-run cost curves for a firm in a perfectly competitive industry. In each case, determine the market equilibrium price and output (label Pe, Qe) and the profit maximizing output for the competitive firm at that price (label qe). Then indicate whether the firm is earning a profit of incurring a loss. If the firm is incurring a loss, indicate whether it should continue to operate or shutdown. D me Ave