There are 6 competitive firms in an industry, each with TC=q 2
+2q+100. i) What are the shut down price and the break-even price for a firm in this industry? ii)Explain how a firm could want to operate even if it would lose money by doing so. iii)What is the equation for the market supply curve? iv) If demand is given by P=34−Q, what will be the market price in the short run?