Assume a single firm in a perfectly competitive industry has total costs as indicated below. Complete the cost table numbered cells and place your answers in the corresponding numbered boxes below. Round your answer to the nearest two decimal places (to the nearest cent). DO NOT INCLUDE COMMAS or DOLLAR SIGNS. The decimal will be required for the cents in the boxes. Average Fixed Refer to the cost data in the previous question as well as the table below to answer the following questions. Assume there are 200 rms in the industry. Type the number only in the answer boxes. Do not use units or dollar signs. Round your dollar answer to the nearest full dollar. Price Qs (Total Mkt) Qd (Total Mkt) $360 2000 800 290 1800 1000 230 1600 1200 180 1400 1400 140 1200 1600 110 1000 1800 so 800 2000 #1. What will equilibrium price be? #2. What will equilibrium output be for each rm? #3. What will prot or loss be per unit at equilibrium? Using the cost table from the previous question I in the below table. (1 mark per answer) Output Time Frame Price Level Profit/Loss Per SR/LR/Shutdown Why that time frame? Unit #1 #2 #3 #4 $230 45 #6 #7 #8 $100 In the following blanks state what number belongs in each of the #1 through #8 boxes in the chart. Write only the number in the answer box do not include units or dollar sign. Round your dollar answers to the nearest penny. Blank # 1 A/ Blank # 2 A/ Blank # 3 A/ Blank # 4 A/ Blank # 5 A/ X