Please provide full explanation.

(2) Consider that there are 25 identical firms currently in this perfectly competitive market. The current market demand is: Quantity Demanded Price 220 45 205 55 190 65 175 75 160 85 145 95 (a) On a properly labeled graph, illustrate the market demand and industry supply, and determine the short run price, quantity and profit for the typical firm.The table shows the cost data for one of several identical firms in a constant cost perfectly competitive industry for product X. Fill in the table given the fixed cost is $50. Quantity Total Total Total Average Average Average Marginal of X Variable Fixed Cost Fixed Variable Total Cost Cost Cost Cost Cost Cost 0 0 1 70 2 120 3 155 4 193 5 242 6 302 7 370 8 462 9 571 (1) In the short run, calculate the output and profit or loss for this typical firm for each of the following prices (i) Price = $55 (ii) Price = $65 (iii) Price = $75 (iv) Price = $85 (v) Price = $95