QUESTION 2 144 136 128 120 112 104 96 88 80 Price 72 64 16 0 37 74 111 148 185 222 259 296 333 3 70 407 444 481 518 Quantity -P = MR AC Using the graph above, calculate profits at the profit maximizing output level for this competitive firm. QUESTION 3 A firm is in a perfectly competitive industry where the market price for its product is $32 The firm's cost function is: TC(Q) = 3,600+13Q+0.0012502 Calculate the profit maximizing quantity for this firm