$***$Please when filling out the graphs leave a chart with the points, sometimes graphs are hard to read, thanks! :$)**$

Suppose there are $7$ firms in this industry, each of which has the cost curves previously shown.

On the following graph, use the orange points $($square symbol$)$ to plot points along the portion of the

industry's short$-$run supply curve that corresponds to prices where there is positive output. $($Note: You are

given more points to plot than you need.$)$ Then, place the black point $($plus symbol$)$ on the graph to indicate

the short$-$run equilibrium price and quantity in this market.

Note: Dashed drop lines will automatically extend to both axes.

$0$

At the current short$-$run market price, firms will $($Shut

down, produce$)$ in the short run. In the long run, $($firms will

neither enter nor exit, some firms will enter, some firms

will exit$)$