2. A firm operates in a perfectly competitive industry.Suppose it has a short run total cost function given by TC= 10000 +0.04q2.If the market price is 56, the firm's profit-maximizing quantity is? __________

Note: Questions 8 - 10 use the same information.8. A drug company has a monopoly on a new class of corticosteroid. The market demand is given byP = 210 - 0.003Q. The monopolist's costs are described by TC = 3,000,000 + 3Q.The profit-maximizing quantity is? ___________9. As before, a drug company has a monopoly on a new class of corticosteroid. The market demand is given by P = 210 - 0.003Q. The monopolist's costs are described by TC = 3,000,000 + 3Q.The profit-maximizing price is? ___________ 10. As before, a drug company has a monopoly on a new class of corticosteroid. The market demand is given by P = 210 - 0.003Q. The monopolist's costs are described by TC = 3,000,000 + 3Q.The maximum profits are? _____________