Suppose that Myrtle operates in a perfectly competitive market and has costs. Suppose the market price is $8. E--- _---M 8.33 7 7.5 8.25 7.25 B [Imus-muss- a. What is Myrtle's prot maximizing output level? What is her maximum profit? b. What is the lowest price at which Myrtle would be willing to produce honey in the short-run? C. Is Myrtle in longrun equilibrium? What would you predict will happen to the price in this market will it rise, fall or stay the same? Why