A firm's total cost of producing Q units of output is

C(Q) = 79 + 20Q

The inverse market demand curve for the firm's product is

P(Q) = 100 - Q

a)If the price of the product is set equal to the firm's marginal cost, what profit will the firm earn?

b)If the price of the product is set equal to the firm's average cost, what will the price be, what output will the firm produce, and how much deadweight loss will arise?

c)Now suppose a two-part tariff is set, so that each consumer pays a fixed fee regardless of consumption level plus a per unit -unit price. Further suppose that the market consists of ten consumers, each with inverse demand curve

P(Q) = 100 - 10Q.

If the price is set equal to the firm's marginal cost, what is the largest fixed fee that a consumer would pay for the right to buy at that price?What would the deadweight loss be if this marginal cost and fixed fee were imposed? Explain and show your work.