The following table gives quantity supplied and quantity demanded at various prices in the perfectly competitive meat-packing market:QS QDPrice (per lb.)(in millions of lbs.)$1.0010100$1.251590$1.502575$1.754063$2.005555$2.256540Assume that each firm in the meat-packing industry faces the following cost structure:PoundsTC60,000$110,00061,000$111,00062,000$112,00063,000$115,000a. What is the profit-maximizing output level for the typical firm?b. Is this market in long-run equilibrium? Why or why not?c. What do you expect to happen to the number of meat-packing firms over the long run? Why?