Question 1 {1D points}. Suppose you are the manager of a nurserv selling purple petunias operating in a competitive market. Your cost of production is given try: (3 = Z + ooml where q is the level of output {per 6pack of petunias} and C is total cost. a] If the price of a Epack of petunias is $5, calculate your firm's profit maximizing quantitv. h} Calculate your firm's profit or losses. c] What do you predict will happen in this market in the long run? d} Calculate the break-even P and o for your firm in the long run