7. [15 pts] Suppose that a monopolist's cost function is given by c(q) = 18q2 + 40q + 8, where the demand function for this industry is given by Q = 1600 - 4p. a. Solve for the monopoly price, quantity and profits. Show your work on a graph. b. What would the long-run equilibrium price and quantity be if this industry was filled with competitive firms? c. How many firms would be operating in this industry in the long-run, if it is competitive as described in part b above