Given the protmaximizing choice of output and price, Citrus Scooters is earning 7 protI which means there are v sellers in the lnElUStW relative to the long-run equilibrium amount. Now consider the long run in which scooter manufacturers are free to enter and exit the market. Show the possible eiect of this free entry and exit by shi'ing the demand curve for a malice! individuei' producer of scooters on the foiiowing graph. ? O Demand PRICE (Dollars per scooter) Demand QUANTITY (Scooters)Which of the following statements are true for both monopolistically.r competitive markets and monopolyr markets? Check all that apply. Cl Firms can earn positive profit in the long run. Cl Price is above marginal cost. l:l Firms earn zero prot in the long run. l:l Firms are not price takers