The Fragle Firm faces the following cost functionQ TC0 601 822 973 1094 1255 1466 1717 2038 2409 28210 42711 47712 5331) Assume the Frangle Firm can sell all of the output it wants at a price of $55. How much should it produce and sell if tis is to maximize its profit?2) If the price falls $40, how much should the firm produce and sell if it wants to maximize profits? What are the maximum profits?3) Now assume that the first unit can be sold for a price of $80 and that the firm must lower its price by $2 for each additional unit it sells. What is the new profit maximizing levelof output and the new maximum profit level (i.e. it sells the fir unit for $80 and it sells 2 units for $78?Show all work!!!