Need help knowing how to approach the problem, any help would be appreciated: thank you!

_ _ 1. Demand for XRay machines is: Q\" _ 1030.0 2 p (p: price in $ per machine) X-Ray machines are produced by identical, \"price-taking" rms (individually denoted by 0, each with the following costs for producing Qi units: Total Cost: TC(Q,) = of + 1, 000, 000 Marginal Cost: MC(Q,-) = 20: 1. Derive the Average Total Cost (ATC) for rm i. At what level of Qi is the ATC minimized and what is the minimum value of ATC? 2. On a graph with rm output Q, on the horizontal axis and unit cost (in $) on the vertical axis, sketch the MC and ATC curves. Label the intercept and sl_om of the MC curve and the coordinates of the minimum point of the ATC curve. [Note: Outside of the minimum point, you can sketch the ATC curve freely. ] 3. The current market price per X-Ray machine is p=4,000. In the short-run, the number of firms is xed. How many X-Ray machines will each firm i produce? What will be each rm's prot? Calculate and show both the production level and individual rm prot on the graph from (b) 4. In the short-run, how many producers n are serving the market at the equilibrium price of p=4,000? And what is the combined prot of all n rms? 5. Without barriers to entry, what do you expect to be the long-run equilibrium price of an X-Ray machine after the number of rms n has adjusted? How many XRay machines will the typical rm produce under the long-run equilibrium? 6. In the long-run equilibrium, how many producers n are sewing the market? And what is the combined prot of all n rms? 7. There are many reasons why the market for X-Ray machines may not reach the outcome described in (e) and (f), but remain at a higher equilibrium price even in the long-run. Provide one possible reason and explain it. [No calculations needed, only a brief explanation applied to XRa y machines. ]