Economics question: 7 & 8 are a part of 1 question and attached.

7. Suppose that all the firms in a given market can be characterized by the cost structure illustrated in the figure on the left. If market demand is as indicated in the figure on the right, the number of firms required to support long run equilibrium is: S MC Price($) Market Demand : 15 15 AVC 10 10 Price = $10 1 . . 5 D 5 10 15 Quantity 500 1000 1500 Quantity A) 90. B) 100. C) 110. D) 120. E) some number greater than 50 that cannot be determined with the information provided. 8. The short-run supply curve of a firm in perfect competition is the rising segment of its short-run: A) marginal cost curve. B) average fixed cost curve. C) average variable cost curve. D) marginal cost curve above its average variable cost curve. E) average total cost curve