l. (15 points) Mitchell operates a Seasonal fruit stand (in eed, tario) in pure competition with the following cost technology: c y? + . Beeguse other fruit stands have access to the same technology (hence the subscript i); there is a;possibiliw that some fruit stands operating in the industry may be producing at a level of output that not profitable in the long run. If the market demand for fruit (from fruit stands) is 30 Y; where P and Y ake the market price and quantity respectively, and all fruit eftands the market price taker-so and entry/exit is costless, answer the following questi a) Whatis (f)f eachfi in the Explain fully. (5pts) b) Is there enough in formation to deterniine the Optimal numbeof fruit Stands that Would operate in the long-run? If yes, how many? f no, w t Othyr ln@rmati09 Would you need. (5pts) c) Does the assumption of firms being m Explain fully. (5pts) sense fro an econohiic perspective?