1. There are two firms, A and B, on a competitive market. Firm A's total cost is given by: TCA(Q) =1+ 0.5Q% and firm B's total cost is given by: TCE(Q) = 0.5Q% + 6Q The market demand curve is ;3 = 6 p. We denote by () the market supply (i.e., the sum of firm A's supply and firm B's supply). (b) What is the slope of the market supply curve (i.e. dQs/dp) when p = 3? What is the slope of market supply curve when p = 7? (c) Find the market equilibrium price p* and quantity Q*