1. Suppose that you have some information about a rm's variable and xed costs in the short-run. Suppose a rm's variable costs are Cv(y) = 20? + 4wy2, where w is the price of the rm's variable factor. Moreover, suppose the rm's xed costs are F = 20. (a) Solve for the rm's marginal cost function. (b) Solve for the rm's average cost, average variable cost, and average xed cost. (c) For the rest of the question, assume to = 1. Solve for the rms shutdown price. (d) Suppose the price of the output good is $10. At this price, does the rm operate? If so, what are the rm's prots? (e) Suppose the price of the output good is $14. At this price, does the rm operate? If so, what are the rm's prots? (f) Suppose the price of the output good is $18. At this price, does the rm operate? If so, what are the rm's prots