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The mаrket demаnd curve fоr sоme hоmogeneous product is given by P = 500 – Q. A lаrge number of firms, referred to collectively as the “bunch,” can produce the product, each with the following cost structure: TC = 10Q, so that MC = 10. One firm — Turbomax— has the following cost structure: TC = 100 + 5Q, so that its MC = 5. Turbomax can produce a maximum of 100 units. Find the market equilibrium price and quantity. (3 points) Calculate the profit for a firm in the “bunch.” Explain. (3 points) Calculate the quantity sold by Turbomax as well as its price and its profits, if any. (4 points)