3. Jim Baker produces cakes. His short run cost function is C(y) = 100 + 10y 2y2 + 313, where y is the number of cakes. (a) Derive and graph the marginal cost, the average variable cost and the average total cost curves. (b) What is the short run supply curve? (c) If there are 300 identical bakers in the short run, what is the short run industry supply curve? (d) Suppose the long run cost curve of the typical baker can be described by 0(0) = 0, and C(y) as expressed in the above equation when 3; > O. (This is sometimes referred to as a quasixed cost technology, associated with positive costs required to open the rm, although 1 shutting down at zero cost is still possible). Find the long run industry supply curve under the assumption that there is no other technology to produce cakes