Solve clearly

5. A perfectly competitive market is in short-run equilibrium with price at $50 and the average cost of businesses in the market at $40. a. Outline the trends that will push this market toward long-run equilibrium. b. Once this market reaches its long-run equilibrium, will the minimum-cost pricing rule be met? Explain. 6 |Page KPP / Microeconomics/ Group Assignment c. Once this market reaches its long-run equilibrium, will the marginal-cost pricing rule be met? Explain