3. Firms in a perfectly competitive market have the following production func tion: C(q) = 144 + 12gr + 92. Market demand is given by Q = 2300 - 50p. a What is the average cost function for a typical rm in this industry? 13 What is the marginal cost function for a typical rm in this industry? (c d (e How many of these rms are needed to supply the market? ( ( ( J 3 ) How many units (9') would a prot maximising rm supply? ) What will be the market price? 3