All firms in this perfectly competitive market are identical. A typical firm's total cost equation is given as TC (q) = 4q3 - 892 + 169 + 367, where MC = 12q2 - 16q + 16. The market is characterised by the following market equations: Qs = 50P - 2, 500 and QD = 6, 860 - 15P, where P is measured in cents. You may need this equation: - bev- 4ac 2a Part a) (1 point) Derive a typical firm's short-run supply curve. To receive full marks, provide all relevant details. Part b) (7 points) Calculate the industry-level profits (in cents)