)Consider the following cost information for a firm that operates in a perfectly competitive market.

Q (quantity of output)

Total cost ($)

0

12

2

28

4

38

6

52

8

70

10

92

12

120

(1) Suppose that the market price is $9.Find the quantity of output that the firm should produce in the short run.

2) Suppose that the market price drops from $9 to $7.Find the quantity of output that the firm should produce in the short run.