b) In a closed economy, savings and investments are interacted Who are savers and investors in this closed economy? How does financial (capital and money) market work? How does crowding out happen? Briefly discuss, by using 1, S, G, T, X, M, how the scenario change when the economy is OPEN. . Q3) Spacely Sprockets' short-run cost curse is: C(q. K) 2542 + 15K, where g is the number of Sprockets produced and K is the number of robot hours Spacely hires. Currently, Spacely hires 10 robot hours per period. The short-run marginal cost curve is: MC(q. K) = 502 If Spacely receives $250 for every sprocket he produces, what is his profit maximizing output level? Calculate Spacely's profits