someone plz help with this!!!!

III. (11 points) Please read the article reprinted below titled Notable \& Quotable: Gouging" written shortly after the onset of the Covid pandemic (Mareh 31, 2020) and answer the following questions. Note: The phrase "price-gouging" refers to a situation where some sellers charge prices (e. . for health equipment and supplies) that are well above the previous market price charged by sellers. 1. Explain why it is not possible for individual sellers to charge a price above the market price assuming a perfectly competitive industry. 2. Assuming the market for health care cquipment and services (e.g, ventilators, masks, testing, etc.) operates like a perfectly competitive industry, explain what would be expected to happen to the market price (P) and industry output (Q) of health care equipment in a) the short run and b) the long run due to the outbreak of the Covid pandemic. Also, explain what would be expected to happen to economic profit for firms in health