Ap microeconomics free response question about Market Structures and Production Cost

FRQ - Rice (11 points) Rice is produced in a perfectly competitive industry. Grand Farm is a typical firm in rice industry earning a positive economic profit. A. Using correctly labeled side-by-side graphs for the rice industry and Grand Farm, show each of the following in the short run. i. The industry price and quantity labeled Pm and Qm ii. Grand Farm's demand curve and marginal revenue curve labeled Df and M Rf. iii. Grand Farm's quantity of output, labeled Qf. iv. Grand Farm's profit, shaded completely. v. Explain the difference between Grand Farm's profit and accounting profit. B. In the long run, what happens to each of the following? i. The number of firrns in the industry. Explain. ii. The equilibrium price; does it increase, decrease, or remain the same relative to Pm. C. Suppose there is a drought that severely wipes out a full year's crop of rice i. Show the impact of the drought on the rice market and Grand Farm. ii. With a new higher price, what must be true for Grand Farm to remain in the market?