. What reasons make the demand curve of a perfectly competitive rm completely hotiaontal'? Briey explain. What type of market structure are the following in? (this ute). Only two producers supply aluminitnn in the world, a good sold in many places. The price of natural gas is determined by worldwide supply and demand. A tiny share of that global supply is produced by a few companies located in the North Sea. Lots of designers sell high fashion clothes. Each designer has a unique style. Represent the information below in an appropriately labelled diagram and decide whether the rm should continue production or shut down in the short nm. The lossminimizing quantityr is IUD mugs. The average variable cost {AVE} is 9 taka per mug and the average xed cost {AFC} is 4 taka per mug. The rm charges a price of 12 talca per mug. The market for oranges is perfectly competitive and all rms are in long~run equilibrium currently. 1What will happen in the marketI inthe short run and the long mu, if scientists claim that consumption of oranges can cause blood diseases? Use two appropriately labelled diagrams of the market and the individual perfectly competitive rm to explain