(Solved): URGENT!! Please answer Refer to the interactive below: Perfect Competition i ...

URGENT!! Please answer

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Refer to the interactive below: Perfect Competition in the Long Run Instructions: Move the Market Demand slider as instructed. Later, press the Price Adjustment button and observe the animations in the graph. If needed, use the Reset button in the Settings window to start over. Suppose the demand curve shifts so that the market price is \( \$ 2.30 \). a) At this price, how many units should the firm sell to maximize profits? \( \times \) units b) When this firm maximizes its profits, what will its profits be? \( \$ \) (Report your answer to two decimal places. Include a negative sign if needed) c) As this industry adjusts towards a long run equilibrium, the number of firms in the industry will \( \mathbf{x} \).