TC=500 + 3512 Which means MC=6q In this problem do the analysis for a perfectly competitive firm that faces an industry price p = $222 per unit sold. (2 - points) What is the profit-maximizing level of output? Show your work. (2 ~ points) What is the average total cost at the profit-maximizing level of output? (show your work) (2 - points) What is the firm's profit at the profitmaximizing level of output? (Show your work) If the firm's profits are positive in part c the industry will begin to adjust (there will be entry). If there are negative profits the industry will begin to adjust (there will be exit) 1 (2 - points) At what price will entry (or exit) stop? (Hint: solve dgc Ag) + 3:0 for q to answer thisqquestion.) 2 (2 - points) What is the market price that will bring output to this point