Please help with the incorrect and unanswered questions. If someone can help I will give a thumbs up. I included all the info I was given. Thanks! :) e. Now assume that there are 1,500 identical firms in this competitive industry. That is, there are 1,500 firms, each of which has the costdata shown in the table. Complete the industry supply schedule (column 4 in the table above).f. Suppose the market demand data for the product are as follows:TotalQualityPriceDemanded$22.0019,00017,00015,00013,50027.0032.0038.0043.0012,00047.0010,50057.009,500What is the equilibrium price? $What is the equilibrium output for the industry?unitsFor each firm?unitsInstructions: Enter your answers rounded to two decimal places. Enter positive values for profit or loss.What will profit or loss be per unit?Lossper unit = $Per firm? $Will this industry expand or contract in the long run? Contract Assume that the cost data in the following table are for a purely competitive producer:Average Average AverageVariableTotalFixedTotalMarginalProductCostCostCostCost$60.00$45.00$105.00 $45.00230.0042.5072.5040.0020.0040.0060.0035.00415.0037.5052.5030.00512.0037.0049.0035.006.10.0037.5047.5040.0078.5738.5747.1445.0087.5040.6348.1355.006.6743.3350.0065.00106.0046.5052.5075.00Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Select "Notapplicable" and enter a value of "O" for output if the firm does not produce.a. At a product price of $66.00(i) Will this firm produce in the short run?(ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output?Profit-maximizingO output =9 O units per firm(iii) What economic profit or loss will the firm realize per unit of output? Profitper unit = $16b. At a product price of $41.00(i) Will this firm produce in the short run?Yes(ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output?Loss-minimizing Ooutput = |6units per firm(iii) What economic profit or loss will the firm realize per unit of output?LossOper unit = $-39c. At a product price of $32.00(i) Will this firm produce in the short run?No(ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output?Not applicableoutput =0 O units per firm(iii) What economic profit or loss will the firm realize per unit of output? Total loss O per unit = $60 0Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) infront of those numbers.d. In the table below, complete the short-run supply schedule for the firm (columns 1 and 2) and indicate the profit or loss incurred ateach output (column 3).(1)(2)(3)(4)QuantitySupplied,Single FirmProfit (+) orLoss (-)Quantity Supplied,1,500 FirmsPrice$22.0027.0032.0038.0043.0047.0057.00

a) Yes, $66exceeds AVC (and ATC) at a loss-minimizing output. using the MR=MC rule it will produce 9…

Assume that the cost data in the following table are for a purely competitive producer: Average Average Variable Average Marginal Total Product Fixed Total Cost Cost Cost Cost 1 $60.00 $45.00 $105.00 $45.00 30.00 42.50 72.50 40.00 3 20.00 40.00 60.00 35.00 4 15.00 37.5e 52.50 30.00 5 12.00 37.00 49.00 35.00 6. 10.00 37.50 47.50 40.00 7 8.57 38.57 47.14 45.00 8 7.50 40.63 48.13 55.00 6.67 43.33 50.00 65.00 10 6.00 46.50 52.50 75.00 Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Select "No applicable" and enter a value of "0" for output if the firm does not produce. a. At a product price of $66.00 (i) Will this firm produce in the short run? Yes (ii) If it is preferable to produce, what be the profit-maximizing or loss-minimizing output? Profit-maximizing O output = 9 O units per firm (iii) What economic profit or loss will the firm realize per unit of output?Profit per unit = $ 16 b. At a product price of $41.00 (i) Will this firm produce in the short run? Yes (ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? Loss-minimizingO output = 6 O units per firm (iii) What economic profit or loss will the firm realize per unit of output? Loss V per unit = $ -39 0 c. At a product price of $32.00 (i) Will this firm produce in the short run? No (ii) If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? Not applicable output = 0 O units per firm (iii) What economic profit or loss will the firm realize per unit of output? Total loss per unit = $ 60 0 Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. d. In the table below, complete the short-run supply schedule for the firm (columns 1 and 2) and indicate the profit or loss incurred at each output (column 3). (1) (2) Quantity Supplied, Single Firm (3) (4) Profit (+) or Loss (-) Quantity Supplied, 1,500 Firms Price $22.00 27.00 32.00 38.00 43.00 47.00 57.00