A price searching firm faces the following demand and cost function: P = 100 Q TC = 10Q + 10 a. What is the optimal price and quantity for this firm? To do this, first establish the firm's MR and MC curves and then graph them (along with the demand curve) on graph paper. b. What is the firm's profit or loss? c. What is the level of output and price if it were a perfectly competitive market? Show and explain this result.