a. The firm faces a market price p = $24. Create a spreadsheet with q = 0, 1, 2, .../ 15, where the columns are q, R, C, VC, AVC, MC, and profit. Determine the profit-maximizing output for the firm and the corresponding profit. Should the firm produce this level of output or should it shut down? Explain briefly. (Hint: See Q&A 8.20.) b. Suppose the competitive price declines to p = $12. Repeat the calculations of part a. Should the firm shut down