3. On a tropical island there are 100 potential boat builders, numbered 1 through 100. Each can build up to 16 boats a year, but anyone who goes into the boatbuilding business has to pay a xed cost of $15. Marginal costs differ from person to person. Where 3; denotes the number of boats built per year, boat builder 1 has a total cost function C(y) : 15+y. Boat builder 2 has a total cost function C(y) : 15 +2y, and more generally, for each i, from 1 to 100, boat builder 9'. has a cost function C(y) : 15 + (i x y). a. Derive the market supply curve. b. Suppose the market demand function is y(p) = 698 33. Find the equilibrium price and number of boats built in a year