Question: Can I get some help with these three problems? Please l. A perfectly competitive rm has the following cost function: TC = 2Q2 +12Q+420. A.

Can I get some help with these three problems? Please

l. A perfectly competitive rm has the following cost function: TC = 2Q2 +12Q+420. A. Is this a shortrun or long-run cost function? Fully explain your answer. B. The market price for this good is $48. Calculate the f1rm's prot maximizing level of output, q*. C. At q*, calculate this rm's prot. D. Calculate the Average Total Cost (ATC), Average Variable Cost (AVC), and Average Fixed Cost (AFC) at q*. Should the rm shut down or keep producing in the short run. Defend your answer using the shutdown rule. Remember to explain fully. \f3. Total cost and market demand functions are given by: IC=2Q01Q?+om5Q3 P = 20 0.5Q . Solve for a monopolist's prot maximizing output. Solve for the monopolist's prot maximizing price. Solve for the value of consumer surplus With monopoly. Solve for the competitive quantity of output. Solve for the competitive price. Solve for the value of consumer surplus With perfect competition. . Solve for the deadweight loss from consumer surplus and a move from competition to monopoly. ommp0w&gt

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