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Part b) Given the demand and cost equations of this monopolistic firm: Demand: P=50-Q and Total Cost: TC=80+200+- Q3-b Find the profit-maximizing quantity and price as well as the total profit of the monopolist. (6 marks) Save UnansweredQuestion 4 (10 Marks) The table below shows the fruit prices that the typical family purchased from 2015 to 2017. Items Quantity Price Spending Price Spending Price (2015) (2015) Spending (2016) (2016) (2017) (2017) Orange 10 $0.60 $0.70 $0.80 Bananas 15 $0.30 $0.35 $0.40 Kiwi fruit 5 $2.00 $2.15 $2.50 Total Q4 i) What is the amount spent each year on each food in the "food basket" using the quantities shown in column 2? (4 marks) ii) Construct the price index for a "fruit basket" in each year using 2015 as the base year. (3 marks) iii) Calculate the inflation rate for fruit prices from 2015 to 2017