Quantity Total Cost Average Total Cost (Pies) (Dollars) (Dollars) 1 7 9 14 4 16 18 6 20 The price of a pie is now $11. At a price of $11, pies are sold in the market. Each producer makes pies, so there are producers in this market, each making a profit of $ True or False: The market is in long-run equilibrium. O True O False Suppose that in the long run there is free entry and exit. In the long run, each producer earns a profit of $ The market price is $ At this price, pies are sold in this market, and