(Q3 - 20pts) Please refer to the diagram below when answering each part of this question. Assume the figure corresponds to a firm operating in a perfectly competitive market in the short run. Let MC=Marginal Cost and MR=Marginal Revenue. Note the MR line is perfectly horizontal. $ /unit ~ MC MR (on-a "(OTA) dog Isiot somaya siff of isifw (digs - 3) 7 output ( 2 ) SOTA gesiminica fraud lovol jugluo adi at isW (elgo - ) (A - 2pts) On the figure, clearly label the implied market-clearing price with P*. (B -2pts) On the figure, clearly label the firm's output with Q*. (C - 4pts) On the figure, draw a representative average total cost curve labeled ATC, such that the firm has positive profits. (D - 3pts) On the figure, draw and shade a rectangle corresponding to the positive profits. Be as accurate as possible! (E - 3pts) On the figure, draw a representative average variable cost curve labeled AVC corresponding to the firm operating with positive output. (F - 3pts) On the figure, mark the firm's shutdown price with P'. (G - 3pts) On the figure, clearly indicate the firm's complete short-run supply curve and label it SSR; that is, indicate output at all possible market prices