1. Suppose that you have some information about a firm's variable and fixed costs in the short-run. Suppose a firm's variable costs are Co(y) = 20 y + 4wy, where w is the price of the firm's variable factor. Moreover, suppose the firm's fixed costs are F = 20. (a) Solve for the firm's marginal cost function. (b) Solve for the firm's average cost, average variable cost, and average fixed cost. (c) For the rest of the question, assume w = 1. Solve for the firm's shutdown price. (d) Suppose the price of the output good is $10. At this price, does the firm operate? If so, what are the firm's profits? (e) Suppose the price of the output good is $14. At this price, does the firm operate? If so, what are the firm's profits? (f) Suppose the price of the output good is $18. At this price, does the firm operate? If so, what are the firm's profits