Bestmilk. a typical profit-maximizing dairy farm, is operating in a constant-cost, perfect industry thatis long-mn equilibrium. {a} Draw correctly labeled side-hy-side graphs for the dairy market and for Be each of the following. {ill Price and output for the industry {ii} Price and output for Bestmilk {h} Assume that milk is a normal good and that consumer income falls. Assum continues to produce. On your graphs in part [a]. show the effect of the decree each of the following in the short mn. {i} Price and output for the industry {ii} Price and output for Bestmilk {iii} Area of loss or profit for Elestmilk {cl Following the decrease in consumer income. what must be true for Bestmil