Consider a perfectly competitive firm in a market where the price for the good is $22. The firm's cost function is given by: C(13)): 30 + 3:; + 2qr2 a) Find the supply function for the firm. b] Determine the firm's prot-maximizing level of output. What are their prots that they would earn? c] If solved correctly, we would have fOund that the firm is making positive profits. Given this, what will you expect to happen in the long run? Will other firms enter? What kind of long run adjustments would you expect the firm to make? Explain