Suppose that the market for solar panel is perfectly competitive. Firms in the market are identical and each firm has a total cost function: =3392+12+20. q is given in number of solar panels and P in pounds. Assume that we are in the short run. (a) If the equilibrium price in the solar panel market is equal to 12, what is the quantity of panels supplied by a firm? What is the profit made by a firm at that market price? (b) Should a firm shutdown and leave the market? Discuss. (c) Given your previous answers comment on what is likely to happen on the market in the long run. Illustrate your answer with graphs.