3) A competitive firm’s cost of producing q units of output is C = 18 + 4q + q2 Its corresponding marginal cost is MC = 2q + 4 The firm faces a market price Create a spreadsheet with 1, 2, ... , 15, where the columns are q, R, C, VC, AVC, MC, and profit. Determine the profit-maximizing output for the firm and the corresponding profit at p = $24. Should the firm produce this level of output, or should it shut down? Explain briefly. (Hint: See Q&A 8.2.)