b. Now, replicate Figure' 14 on your answer sheet. On this graph, let's show the impact of this event on Premium Steak Farm in Missouri. 1. (3 points) Clearly mark the quantity that Premium Steak Farm will produce after Australian steak has entered the market. Label everything in your graph. 2. (3 points) On the same graph, shade an area showing the farm's profit/loss under the new market conditions. Label everything in your graph. 3. (3 points) Will the farm remain in operation, or will it shut down in the short run? Or is it uncertain? Hlow do you know? 4. (3 points) Will the farm exit the market in the long run? How do you know