1. solve for short-run output and profit and long-run output and price
   

All firms operating in a competitive market have cost functions: C(q) = 16 - 2g + q2, where their marginal costs are: MC(q) = -2+ 2q. If the price is currently $12, solve for each firm's profit-maximizing level of output, their profit, and whether firms will enter/exit the market in the long-run. Then, solve for each firm's long-run level of output and the price