The market for apple pies in the city of Ectenia is competitive and has the following demand schedule: Demand Schedule Price Quantity Demanded (Dollars) (Pies) 1,200 N 1,100 3 1,000 4 900 5 800 Each producer in the market has a fixed cost of $6 and the following marginal cost: Quantity Marginal Cost Pies) (Dollars) 3 8 10 12 14 Complete the following table by computing the total cost and average total cost for each quantity produced. Quantity Total Cost Average Total Cost (Pies) (Dollars) (Dollars) IN 3 4 5 16 The price of a pie is now $11. At a price of $11, pies are sold in the market. Each producer makes pies, so there are ( producers in this market, each making a profit of ($ True or False: The market is in long-run equilibrium. True False Suppose that in the long run there is free entry and exit. In the long run, each producer earns a profit of ( $ . The market price is ( $ . At this price, pies are sold in this market, and each producer makes pies, so there are producers operating