Please solve all these questions and make sure it is right. Also no cursive and explain why it is right with actual evidence from other sources. Make the answers clear and numbered. As soon as possible.

Part III: answer the Cost Production problem (30 Points): TC= 20 + 40-.1Q2 1. What is the fixed cost in the equation? 2. What is the variable cost of the equation? 3. Please fill in the table of costs. Output | Fixed Variable | Total Average |Average Average |Margina Cost Cost Cost Fixed Variable Total 1 Cost Cost Cost Cost 6 10 ***Bonus Question*** Bonus Points: (5 points) 4. The market demand curve for a perfectly competitive industry is Qd = 12 - 2P. The market supply curve is Qs = 3 + P. The market will be in equilibrium Qd=Qs a. Solve for P and Q? b. If total cost is $10, what is the Profit