Sophia's Lighting Store sells Good H in a perfectly competitive market with a downward-sloping demand curve and an upward- sloping supply curve. The market price is $140 per unit. {a} Calculate the average xed cost of producing 2 units. Show your work. {In} Identify the prot-maximizing quantity. Explain using marginal analysis. {c} Calculate the econOmic profit at the prot-maximizing quantity you identied in part (b). Show your work. {d} Based on your answer to part (c), will the number of rms in the industry increase, decrease, or stay the same in the long run? Explain. {e} Based on your answer to part {c}, will the market price increase, decrease, or stay the same in the long run? Explain. {f} The income elasticity of demand for Good H is 1 .3, and the cross-price elasticity of demand for desk lamps with respect to the price of Good H is -@ . 9. Based on your answer to part (e), what will happen to the demand for desk lamps? Explain. {g} Now assume that the market in which Sophia's Lighting Store operates is in long-run equilibrium at a price of $130 per unit. (i) Suppose the government imposes a price oor at $150 per unit on the market for Good H. lWill consumer surplus in the market for Good H increase, decrease, or stay the same in the short run as a result of the price floor? Explain. (ii) Suppose instead the cost of energy. a variable cost for Sophias Lighting Store, increases. Will the prot-maximizing quantity of Good H for Sophie's Lighting Store increase, decrease, or stay the same in the short run? Explain