Consider a firm with cost function C(Q)={03Q2+75ifQ=0ifQ>0. 1. Derive the firm's individual supply function. 2. Sketch all relevant curves and the producer's supply in a single diagram. 3. What is the producer's surplus if the per-unit price of the (output) good is p=48 ? What is the firm's profit if the per-unit price of the (output) good is p=48 ? 4. What is the producer's surplus if the per-unit price of the (output) good is p=28? What is the firm's profit if the per-unit price of the (output) good is p=28? 5. Suppose the firm's fixed cost is not avoidable in the short run, that is C(Q)=3Q2+75forallQ0. What is the firm's supply function? Find the firm's producer's surplus and profit if p=48. Consider a firm with cost function C(Q)={03Q2+75ifQ=0ifQ>0. 1. Derive the firm's individual supply function. 2. Sketch all relevant curves and the producer's supply in a single diagram. 3. What is the producer's surplus if the per-unit price of the (output) good is p=48 ? What is the firm's profit if the per-unit price of the (output) good is p=48 ? 4. What is the producer's surplus if the per-unit price of the (output) good is p=28? What is the firm's profit if the per-unit price of the (output) good is p=28? 5. Suppose the firm's fixed cost is not avoidable in the short run, that is C(Q)=3Q2+75forallQ0. What is the firm's supply function? Find the firm's producer's surplus and profit if p=48