Industry-wide demand em The indusujr is in lung 11m equilibrium and there are 5i} rms.

The widget industry is a constant cost industry, so that all firms are identical. The following chart shows the industry-wide demand curve and the marginal cost curve of a typical firm

1.What is the price of a widget? 

2.What are the fixed costs of each firm?

3.On the short run supply curve of the industry, what quantity corresponds to a price of $8?

please explain why?What the process is