Question 3 [14 points] The following graphs are for the rm Joe's Electronics in an industry:' that is monopolistically competitive. a] Plot the equilibrium point in the graph below. ' Equilibrium Price, Cost ($IQ) - I - = g ! b} Mark the area for total economic prot in the graph above. c) In the following graph, drag the demand line (D) so that it is consistent with zero economic profits. Demand ATC 90 75 60-D MG Price, Cost ($/Q) 45- MR 30 154 Reset Units of Output d) Drag the marginal revenue line (MR) so that it is also consistent with zero economic profits. e) Plot the new equilibrium point