topic: perfect competition. plss explain the graph thank youu!

I. GRAPH CONSTRUCTION (10 items x 2 points) Construct the graphs that will correspond to the change in the market. 1. Mang Ramon is a fisherman who sells his catch in the town of Santa Clara. There are other fishermen like him, who catch mostly the same fish and price their products the same. One (1) day, they are able to catch more fish, which they all decide to sell in the market. Assuming that there are no changes in the costs, and the graph below are from before the new fisherman entered the market, show the shifts in: . Demand and supply graph (10 points) (How will demand and/or supply shift?) . Price and profits of Mang Ramon and the other fishermen (10 points) (Will the price and profits of the others increase/decrease?) P S MC AC D