2. (20 points) Consider the following firm that is perfectly competitive Q TVC 1 40 2 55 3 75 4 100 5 130 6 165 7 210 8 265 9 325 10 390 Assume the firm has fixed costs of $35 a. If the market price is $46, how much will the firm produce and what will be its profits? You must show your work. b. If the market price is $30, how much will the firm produce and what will be its profits? You must show your work. c. What is the lowest price the firm can accept in the short-run? How do you know? d. If all firms are exactly the same, what will the price be in the long-run? How do you know