Consider the tofu (a common food made from soy bean) market which is perfectly competitive and assume that the market is at the long run equilibrium. (a) Examine the cost structure and demand faced by an individual perfectly competitive tofu farmer. Relate that farmer to the tofu market at the perfectly competitive long-run equilibrium. Support your discussion with suitable diagrams for the tofu market and the individual tofu farmer. (10 marks) (b) Analyse the effects of the following news on price and quantity in the tofu market as well as the profit and output of an individual tofu farmer: "It is discovered that tofu is health-enhancing". Explain these effects in both the short run and the long run equilibria and support your answers with suitable diagrams. (10 marks)