Suppose a price-taking firm has the following total costs schedule: Quantity Total Cost (dollars) MC $20 $30 $42 $55 $75 $100 $130 a] Calculate marginal cost. If the price in the market is $20, how many units will the firm produce? (4 points) b) Suppose the price in the market falls to $12 per unit. How many units of output will this rm produce in order to maximize prots? (2 points) c] Suppose there is an improvement in technology that shifts total costs down by $8 at every level of production. How much will the firm produce and what will profits be at a price of $20 and at a price of $12? (4 points} mm-bUBMI-'O