Study the attachment and calculate the following questions.

Question 2B.26 Draw the short-run equilibrium position for a perfectly competitive firm that is making losses, the losses being insufficient to make it shut down in the short run. [4]Let 7 denote the complete future lifetime of a newborn baby. The hazard rate for mortality at age x is defined to be: 4 = lim =xPITSx+hT>x] Now let T, denote the complete future lifetime of a life aged exactly x who is subject to the same mortality rates. Show that, when / >0: Are = lim - XP [ T, Sith| I, > 1 ] [3] 1-+0+ 1