QUESTION: Consider the following market demand function: y=104-p/4

Part 1 (2 points) Feedback See Hint Suppose this market is competitive, and all firms have identical cost functions given by c (y) = 80y. The quantity produced and sold in this market is x 88 units. The equilibrium price in the market is $ 80 per unit. Part 2 (2 points) Feedback See Hint Now, suppose instead that the market is served by a profit-maximizing monopolist. The quantity produced and sold in this market is X 44 units. The price charged by the monopolist is $ x 300 per unit. Part 3 (1 point) Feedback See Hint The deadweight loss associated with this monopoly is $ x 6160