Use the following to answer questions:
Figure: Game-Day Shirts 
-(Figure: Game-Day Shirts) Rick is one of 10 vendors who sell game-day T-shirts at football games in a perfectly competitive market. His costs are identical to the costs of the other 9 vendors. When the industry is in long-run equilibrium, the price of each shirt will be _____, and the total quantity supplied will be _____.
Definitions:
Difference Principle
A principle suggesting that societal inequalities are only justified if they benefit the least advantaged members of society.
Economic Equalities
The state or goal of fair distribution of wealth and resources among individuals or groups, aiming for minimized financial disparities.
Social Equalities
The condition in which no differences in wealth, opportunities, and status exist among members of a society.
Normative Values
Values that are widely accepted and upheld by a group or society, guiding behavior and setting standards for what is considered right or wrong.
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