Acompetitive firm currently produces and sells 7,500 units of output at a price of $2.50 per unit. the firm's average fixed cost is $0.75 and its average total cost is $2.80. a. what are the firms profits? show your work. b. in the short run, should the firm continue to operate? explain why. c. in the long run, should the firm continue to operate? explain why. d. in the long run, what do you expect to happen to the market price in this industry? explain why.