a. The equilibrium position of a firm is illustrated in the diagram above. Study the diagram and answer the questions that follows:
i. equilibrium output level

ii. equilibrium price

b. At equilibrium output level, calculate the firm's

i. total cost

ii. total revenue

iii. total profit

c. At equilibrium output level, calculate the firm's
Is the firm operating is the long-run or short-run? Explain your answer.

d. At equilibrium output level, calculate the firm's

i. What type of market is the firm operating in?

ii. List three features of the market type identified in d(i)