6. Deriving the short-run supply curve Consider the competitive market for halogen lamps. The following graph shows the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves for a typical firm in the industry- For each price in the following table, use the graph to determine the number of lamps this Arm would produce in order to maximize It's profit. Assume that when the price is exactly equal to the average variable cost, the Arm is indifferent between producing zero lamps and the profit- maximizing quantity. Also, indicate whether the firm will produce, shut down, or be indifferent between the two in the short run. Lastly, determine whether I will make a profit, suffer a loss, or break even at each price. Price Quantity Dollars (Lamps) Per lamp Produce or Shut Downt Profit or Loss 12On the following graph, bise the orange points [square sproof) to plot points along the portion of the firm's short-run supply curve that corresponds to prices where there is positive output. (Note: You are given more points to plot than you need.) Suppose there are 9 firms in this industry, each of which has the cost curves previously shown. On the following graph, use the orange points (square symbol to plat points along the portion of the Industry's short-run supply curve that corresponds to prices where there h positive output. (Note: You are given more points to plot than you need.) Then, place the black point (plus symbol on the graph to indicate the short-fun equilibrium price and quandry in the marinet Note: Dashed drop lines will automatically extend to both sort. At the current short-run market price, home will in the short run. In the long run