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Hello can someone help me answer these questions pls? ESSAY: Answer each question on page 7 and 8, and submit pages ? and 8. (2

Hello can someone help me answer these questions pls?

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ESSAY: Answer each question on page 7 and 8, and submit pages ? and 8. (2 pts, each) (5). $7 50/bushel Use Figure Five below to answer the following questions regarding an increase in the support price of com from Vbushel, (1 pts, each) (1) Use Figure One on page 9 to answer (1). In the short run (with N. firms), what is the competitive When the support price was $7.50 per bushel: Firm's output? what was the price received by corn farmers? Price? b. how many bushels are exchanged? firm's profits-per unit of output? how big is the surplus (2) Use Figure Two on page 9 to answer (2). In the long run competitive equilibrium al what is the comp After the support price was raised to $9.50 per bushel; what was the price received by corn farmers? what is the comp tive firm's profits in this long run equilibrium? how many bushels are exchanged? (3) Use Figure Three page 10 to answer (3). In the short run, what is the moe how big is the surplus? output? price? $9.50 c firm's profits-per-unit? FIGURE FIVE $8.00 Use Figure Four on page 10 to ama ver (4. In the long run $7.50 what is the monopolist's output? what is the monopolist's price? 100 150 200 300 C) monopolist technologically efficient? If so, why? If not, what is the m efficient output level? anopolist's technologically FIGURE ONE FIGURE THREE ompetitive Shortrun Monopoly in the Shortrun SRMC $10 ATC MARKET FIRM FIGURE TWO Competitive Longrun FIGURE FOUR Monopoly in the Longrun LRMC LRAC $20 LRMC TLRAC

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