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2. Suppose that TC = 10 + 5Q - 2Q2 + Q3/3, thus, MC = 5 4Q + Q2. Recall that the quadratic formula to

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2. Suppose that TC = 10 + 5Q - 2Q2 + Q3/3, thus, MC = 5 4Q + Q2. Recall that the quadratic formula to solve the equation: aX2+bX+c=0is: bi/b24ac x: 2a a. How much will this protmaximizing rm produce if price is $4? Calculate prot. What will happen in the long run? b. How much will this protmaximizing rm produce if price is $9? Calculate prot. What will happen in the long run? c. Calculate the SR supply curve if the rm treats its xed costs as sunk (Note: you do not need to make Q a mction of P just keep P as a function of Q). d. Graph the MC, AVC, and ATC on your graphing calculator. Do your answers make sense

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