Looking to see how to resolve Use the table depicting the costs for a firm that produces computers to answer three questions.TotalProfit perOutputper MonthTotalMarginal MarginalRevenueAverageTotal CostPriceTotal CostRevenueProfitCostUnit$1,000$0$60,000-$60,0001001,000100,00090,00010,000$1,000$300$900$1002001,000200,000130,00070,0001,0004006503503001,000300,000180,000120,0001,0005006004004001,000400,000240,000160,0001,0006006004005001,000500,000320,000180,0001,0008006403606001,000600,000420,000180,0001,0001,0007003007001,000700,000546,000154,0001,0001,2607802208001,000800,000720,00080,0001,0001,7409001009001,000900,000919,800-19,8001,0001,9981,022-22 Suppose the competitive tablet market is in long-run equilibrium. If at this equilibrium, the typical firm produces 20,000 tablets permonth, total costs for this production are $1,800,000, and the minimum of the average variable costs is $70, what price willInstructions: Enter your responses as a whole number.a. induce entry into the market?When the price rises above $|b. cause firms to shut down production in the short run?When the price falls below $c. result in firms exiting the market in the long run?When the price falls below $

Average total cost = Total cost / Quantity of output

Suppose the competitive tablet market is in long-run equilibrium. If at this equilibrium, the typical firm produces 20,000 tablets per month, total costs for this production are $1,800,000, and the minimum of the average variable costs is $70, what price will Instructions: Enter your responses as a whole number. a. induce entry into the market? When the price rises above $ b. cause firms to shut down production in the short run? When the price falls below $ c. result in firms exiting the market in the long run? When the price falls below $