please label and graph everything

5. Short-run supply and long-run equilibrium Consider the perfectly competitive market for copper. Assume that, regardless of how many firms are in the industry, every firm in the industry is Identical and faces the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves shown on the following graph. The following diagram shows the market demand for copper. Use the arange points (square symbol) to plot the initial short-run industry supply curve when there are 10 firms in the market, (Hint: You can disnegard the portion of the supply curve that corresponds to prices where there is no output, since this is the industry supply curve.) Next, use the purple points (diamond symbol) to plot the short-run industry supply curve when there are 15 firms. Finally, use the green points (triangle symbol) to plot the short-run industry supply curve when there are 20 firms. If there were 20 firms in this market, the short-run equilterium price of copper would be per pound. At that price, firms in this industry would Therefore, in the long run, firms would the copper market. Because yeu know that perfectry competive firms earn economic proft in the long run, you know the-long-run equilibrium price must be per pound, From the groph, you can see that this means there witi be firms operating in the copper industry in fong-run equilibrium