2. Consider the fixed fee monopoly brokerage model discusses in class. Let M N 3. The respective valuations are: Buyer 10 6 4 Seller 1 3 5 (a) Determine the broker's optimal trading volume as a function of the fixed fee y (b) Suppose that the broker's cost per transaction is given by k 2. Determine the brokers's profit as a function of y, and find the transaction fee that maximizes the broker's profit. (c) Is the broker's matching that support the solution in part (b) uniquely determined? Explain. (d) Compare the solution in part (b) with the socially optimal solution. Explain your answer. 2. Consider the fixed fee monopoly brokerage model discusses in class. Let M N 3. The respective valuations are: Buyer 10 6 4 Seller 1 3 5 (a) Determine the broker's optimal trading volume as a function of the fixed fee y (b) Suppose that the broker's cost per transaction is given by k 2. Determine the brokers's profit as a function of y, and find the transaction fee that maximizes the broker's profit. (c) Is the broker's matching that support the solution in part (b) uniquely determined? Explain. (d) Compare the solution in part (b) with the socially optimal solution. Explain your