Consider the short-run total cost function STO(q) = $ + 8 (a) Derive the firm's short-run marginal cost function. (3 points) (b) Derive the firm's short-run average cost function. (3 points) (c) What is the firm's average fixed cost function? (2 points) (d) What is the firm's short-run average variable cost function? (2 points) (e) Using a single graph, display the functions solved for in parts (a)-(d). (7 points) (f) For what values of q does the production function have economies of scale? For what values of q does the production function exhibit diseconomies of scale? (2 points) (g) Derive the market short run supply curve if there is 10 firms in this market. (3 pts) (h) Suppose demand is Q" = 120 - 2P Solve for market price and quantity, P* and Q'. (6 pts) (i) Given the equilibrium price, solve for each individual firm's profit or loss. (4 pts) (j) Label the area on your graph in part (e) that represents the firm's profit or loss. (2 pts) (k) What is the firm's profit (or loss)? (3 pts) (1) Display the amount of profit (or loss) on your graph in part (e). (2 pts)