PROBLEM 2 (two parts worth 30 points total). SHOW ALL WORK. Suppose you are providing your consulting services to RimsAndWheels, a firm that supplies hubcaps to the au industry. Suppose the market for hubcaps to the auto in perfectly competitive. RimsAndWheels aims at maximi profit. You estimate the RimsAndWheels's total and ma costs to be: TC =625 + q2 - 5q MC = 2q -5 and you believe all other firms in the industry have identical costs. The current price is $ unit. a) (15 points) Given this information, would you recommend this firm to produce or shu in the short run? Please make sure to explain your answer and show your calculations.b) (15 points) If price stays the same at $40 in the long run, how many units will you recommend RimsAndWheels produce in the long run? Explain your answer and show your calculations