Fill in the table below for a competitive firm that can sell its product for $7 a unit. 
(A)What quantity will this firm produce? Why?
(B)At that quantity level,what profits or losses will this firm make?
(C)Is this market in long-run equilibrium? Why or why not?
(D)In the short run,at what price would this firm break even? At what price would the firm shut down? Explain briefly.
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(A)This firm will produce 2 units of o...
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