Answer the questions. Each question has to bemore than five sentences Q 1) explain the short-run break-even price as well as shut-down price for a competitive firm. (2 points) Q 2) Why is the level of output where marginal revenue equals marginal cost called as the profit-maximizing output under perfect competition? Show your proof. (2 points) Q 3) Describe the shape of short run supply curve in perfect competition. (2 points) Q 4) Do you agree that companies under perfect competition as well as monopoly are making profits in the long run? If yes, why? If not, why not? (2 pints) Q 5) Compare (individual demand curve and marginal revenue curve) under perfect competition and (individual demand curve and marginal revenue curve) under Monopoly. (2 points).