Suppose that q=L+2K and w= II], J" = $5. a. If 31' l then how much must the rm spend to achieve their contract obligations? b. How much must they charge per unit on the contract to break even economically? Suppose that g: min {2.5: ,3L} and w =r = Ell]. a. if (J' 3' then how much must the rm spend to achieve their contract obligations? b. If the market price is $20 per unit and the rm is not allowed to charge more than this price, is the rm going to break even economically\"?l Show that economic prots are equal to zero for the perfectly competitive rm, and explain what economic condition leads to this situation (q-'j. Specically: derive from the general form profit function an economic relationship that always occurs, and the additional relationship that occurs at economic breakeven. You can use a graph to support your answer. You are given the following information: em] = [2-0 + ql2 P = $1 I] a. Solve for the optimal quantity for the rm and prove (second order condition of maximization, as done on math review} that prots are indeed being maximized, rather than minimized at this quantity. b. Using one graph show and explain the relationship between MR, I'vlC, AR, AC, TR, TC and Prot for this rm