Question 2 A rm has costs of production given by 00;) = 10 + 59 + 392. 2.1 Derive the firm's Supply curve. At what price will the firm shut down in the short run? [3] 2.2 If the market price is $23, how much will the rm produce? Will it exit the market in the long run? [3] 2.3 Suppose there are 60 icientical firms as the one described and the market demand is Q\" = 475 5P. Derive the market supply curve. Find the equilibrium price and the quantity produced by each individual firm. [3]