Three part question please answer the following with two screen shots and the question below:The industry is in a long running equlibrium. True or false In the previous table, enter marginal revenue and marginal cost for each quantity.On the following graph, use the green points (triangle symbol) to graph the marginal-revenue curve, then use the orange points (square symbol) toplot the marginal-cost curve. (Note: Be sure to plot from left to right and to plot between integers. For example, if the marginal cost of increasingproduction from 1 unit to 2 units is $5, then you would plot a point at (1.5, 5).)10Marginal Revenue87Marginal Cost3212345QuantityThe marginal-revenue curve and the marginal-cost curve cross at a quantityThis firmin a competitive industry, because marginal revenue isas quantity increases.Revenue and Costs 3. Problems and Applications Q3Consider total cost and total revenue, given in the following table:In the final column, enter profit for each quantity. (Note: If the firm suffers a loss, enter a negative number in the appropriate cell.)Total CostMarginal Cost(Dollars)Total Revenue Marginal Revenue(Dollars)ProfitQuantity (Dollars)(Dollars)(Dollars)6272710143731321741728775243576324210774249In order to maximize profit, how many units should the firm produce? Check all that apply.U 34.6.ON

The following table shows the profit level earned by the firm for each quantity. quantity TC…

Answered: hree part question please answer the…

hree part question please answer the following with two screen shots and the question below: The industry is in a long running equlibrium. True or false

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Which option is correct pls help
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Answer to part D&E are required