| Question 2: Pure Competition There are three dotted lines on the chart representing three different prices for the product. Pick one of the three lines to answer these questions. (Any line you pick is OK.) Which line did you pick: Top , Middle or Lower ? The line you picked represents the price of the product in a Purely Competitive market. Based on this chart and the line you have chosen, answer the following questions. Be sure to use the characteristics of a Purely COmpetitive market to explain your answers. What can you tell me (a) about the company's efficiency? (b) about the company's economic profit or loss in the short run? (c) Is this likely to change in the long run? Type your answer and explanation here