J. 3. This question asks you to consider the market for solar panels produced in a county. For this question. please assume that there are many small solar panel manufacturers, so that the market is perfectly competitive. a} Depict the market for solar panels in longrun equilibrium. Using two diagrams. one to represent the market for solar panels. and a second to represent the costs of a typical solar panel manufacturer1 illustrate the current price, quantity and profits of a typical solar panel manufacturer. Explain why you have drawn the curves as you did. b} To support the development of alternative energy, the government decides to provide land for solar panel factories below market prices. thus subsidizing the production of solar panels. Show how subsidizing a factory in this way changes the costs in the short-run. How would the shortrun profits of a typical solar panel producer change? c} Will the scenario you have described in part {b} be a stable longrun equilibrium? Why or why not? Once again using separate diagrams for both the market and a typical firm. illustrate the new longrun equilibrium for the solar panel market