A perfectly competitive industry has 100 firms in the short run. The table sets out the market demand schedule for this market. Price Quantity demanded ($) (units) 10 3,200 12 3,000 14 2,800 16 2,600 18 2,400 19 2,295 20 2,200 22 2.000 24 1.800 26 1.600 28 1.400 30 1.200Each producer has the following costs when it uses its least-cost plant: Output Marginal cost Average variable cost Average total cost (units) ($ per additional unit) (S) 11 10 13.1 20.5 12 12 13.0 19.8 13 14 13.1 19.3 14 16 13.3 19.1 15 18 13.6 19.0 16 20 14.0 19.1 17 22 14.5 19.2 18 24 15.0 19.5 19 26 15.6 19.8 20 28 16.2 20.3 21 30 16.9 20.716 20 14.0 19.1 17 22 14.5 19.2 24 15.0 19.5 19 26 15.6 19.8 20 28 16.2 20.3 21 30 16.9 20.7 a. Determine each producer's supply schedule. b. What is each producer's shut-down price? c. What is each producer's break-even price? d. Determine the market supply schedule. e. What are the short-run equilibrium price and quantity in this market? f. What is the output produced of each firm? g. What is the economic profit made or economic loss incurred by each firm? Illustrate this on a diagram. h. Do firms have an incentive to enter or exit this market? i. If firms do enter or exit the market, explain how the economic profit or loss of the remaining producers will change. Illustrate this on a diagram. j. What is the long-run equilibrium market price and the quantity produced? What is the equilibrium number of firms in the market in the long run? Indicate the long-run equilibrium on a diagram