Question 2: Perfect IIIlompetition: If the price is $15 and the total cost of producing Q is given by the following function: C(43) = E- + E + C!"- 3. Find the prot maximising output {IT}. {3 marks} h. Find the prot if the rm at the output you found in a. {3 marks} o. Will this firm shut down in the short No? Will this firm exit in the long run? {4 marks} Answer: ET\": the prot maximising output {IT} = me, am Answer Re} For 5R shut down: For LFt exit