Can you help with parts A through D?

2. Suppose a perfectly competitive firm is facing the following cost structure. SMC denotes the fnrn's Marginal Cost. Price and cost [dollars] 60 5D 42.50 we 14::- W D 20 1150 1') EMS 1 .900 2.\" 3.000 mom a) Suppose that the price equals $60 per tmit. What is the amount of econonnc prot earned by this rm? How did you nd your answer? b) Now, suppose instead that the price equals $40 per unit. What is the amount of economic prot earned by the rm? How did you nd your answer? c) In part b, will the firm continue to produce in the short-nut? Why or why not? ExPlain. d) Below what price will the rm shut down? Explain your