ts) A monopoly seller faces a demand curve Q (p) = 120 – 4p. The cost is C(Q)=2+\frac{Q^{2}}{2} (a) (2 points) Write down the profit as a function of quantity and check that the second order condition is satisfied. Find the profit maximizing quantity, price and profit. :) (3 points) If the market is open to competition where all sellers have the same cQ? = 2 +,q2-2 then what is the long run competitive equilibrium price,quantity per seller and number of sellers?