(2 marks) If there is one firm of each type, find the market supply function using your answer in iii). (2 marks) Calculate the market equilibrium price and quantity. (2 marks) Use your answer in v) to find the profits of each firm type. (3 marks) Illustrate the market equilibrium using a sketch of the supply and demand functions. (3 marks) If the market was instead supplied by a monopolist with the cost function C(x) = - 3 40,000 can you find a profit maximizing choice of output? Explain. ix) (2 marks) If the monopolist had the cost function C(x) = = 40,000 x2, but only discrete blocks of thousands of units of the good could be chosen (x = 0, 1000, 2000, 3000, ...) by the monopolist, what amount would the monopolist supply then? Explain your reasoning. x) (3 marks) Compare the monopolist's profit maximizing choice in ix) to the market equilibrium you found in v) using a sketch with the market demand and relevant supply-side curves. Identify the deadweight loss (extent of inefficiency) arising from the monopolist's restriction of supply to the market