Farmers in the United States having to destroy their crops due to the lack of demand due to Covid-19 and answer the followingessay question:

Using the characteristics of pure competition describe if these farmers are facing economic profit, economic loss or should shut down in the short run?

With your knowledge of the long run adjustment process for purely competitive firms, describe what will happen in the long run in the industry and for each farm.

Hint: What will happen with competitors (sharks)?

Do you think the government should intervene in this market? Why?