Assume that the following cost data are for a perfectly competitive producer: 0 na $ 0.00 $ 0.00 na 1 $ 60.00 $ 45.00 $ 105.00 $ 45.00 2 $ 30.00 $ 42.50 $ 72.50 $ 40.00 3 $ 20.00 $ 40.00 $ 60.00 $ 35.00 4 $ 15.00 $ 37.50 $ 52.50 $ 30.00 5 $ 12.00 $ 37.00 $ 49.00 $ 35.00 6 $ 10.00 $ 37.50 $ 47.50 $ 40.00 7 $ 8.57 $ 38.57 $ 47.14 $ 45.00 8 $ 7.50 $ 40.63 $ 48.13 $ 55.00 9 $ 6.67 $ 43.33 $ 50.00 $ 65.00 10 $ 6.00 $ 46.50 $ 52.50 $ 75.00 Answer the questions in the first column in the table below for the price listed at the top of each of the other three columns. Instructions: Round your answers to 2 decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Select "Not applicable" and enter a value of "O" for output if the firm does not produce. (a) (b) (c) At a product price of At a product price of At a product price of $68.00 $43 .00 $34.00 Will this firm produce in the short run? (Click to select) v (Click to select) v (Click to select) v If it is preferable to produce, (Click to select) v (Click to select) v (Click to select) v what will be the profit- maximizing or loss-minimizing output = units output = units output = units output? per firm per firm per firm What economic profit or loss (Click to select) v (Click to select) v (Click to select) v will the firm realize per unit of output? per unit = $ per unit = $ $ d. In the table below, complete the short-run supply schedule for the firm (columns 1 and 2) and indicate the profit or loss incurred at each output (column 3). Instructions: Round your answers to 2 decimal places. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. (1) (2) (3) (4) Price Quantity Supplied, Single Firm Profit (+) or Loss (-) Quantity Supplied, 1,500 Firms $24.00 29.00 34.00 41.00 46.00 57.00 68.00e. Now assume that there are 1,500 identical firms in this competitive industry; that is, there are 1,500 firms, each of which has the cost data shown in the table. Complete the industw supply schedule (column 4 in the table above). f. Suppose the market demand data for the product are as follows: What will be the equilibrium price? $ . What will be the equilibrium output for the industry? . For each firm? |:| units. Instructions: Round your answers to 2 decimal places. Enter positive values for profit or loss. What will profit or loss be per unit? (Click to select) v per unit = $ |:| . Per firm? $ i Screenshot