Question: Graph this: Using side-by-side graphs, draw a market and firm for a perfectly competitive industry in short-run equilibrium where the firm is earning an economic

Graph this:

Using side-by-side graphs, draw a market and firm for a perfectly competitive industry in short-run equilibrium where the firm is earning an economic profit. Shade the economic profit. Show how the market will return to long-run equilibrium. Mark the old and new price and quantity for the market and firm.

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