Question f : What is the equilibrium price? $What is the equilibrium output for the industry?unitsFor each firm?unitsInstructions: Enter your answers rounded to two decimal places. Enter positive values for profit or loss.What will profit or loss be per unit?(Click to select) profit / loss per unit = $Per firm? $Will this industry expand or contract in the long run? (Click to select) ~contarct/expand

each output (column 3). d. In the table below, complete the short-run supply schedule for the firm (columns 1 and 2) and indicate the profit or loss incurred at (2) Quantity (1) Price (4) Quantity Supplied, (3) Profit (+) or Loss (-) Supplied, 1,500 Single Firm Firms $23 28 33 39 44 48 58 e. Now assume that there are 1,500 identical firms in this competitive industry. That is, there are 1,500 firms, each of which has the cost data shown in the table. Complete the industry supply schedule (column 4 in the table above). f. Suppose the market demand data for the product are as follows: Total Quantity Price Demanded $ 23 19, 000 28 17,000 33 15,000 39 13,500 44 12, 090 48 10,500 58 9,500