3. The global yo-yo industry is perfectly competitive, and each producer has the long-run total cost function: TC = 40:; 6g!2 + 933. The market demand curve for yo-yos is 623 = 2200 100P. (a) Derive the formulas for average xed cost, average variable cost, average total cost, and marginal cost for an individual producer. (b) Derive the supply curve for an individual producer. (c) What is the long-run equilibrium price in this industry, and at this price, how much would an individual rm produce? How many active producers are in the yo-yo market in a long-run competitive equilibrium