10. A monopolistieally competitive rm faces a market demand curve given by y=60p a. Suppose average cost and marginal cost are constant at I5. Graph the demand curve and the average and marginal costs. b. Identify the level of output and price that maximizes prots. Show your results on the graph. e. Now suppose that the market demand remains the same but the cost function changes to CO!) = 0.25y2 6y + 150 (1. Identify the quantity and price that maximize the rm's prots. e. Compute the prots. Is the market in longrun equilibrium? Explain