(a2) C(y) = ( 2, if y = 0 8 + 0.5y 2 , if y > 0

(a3) C(y) = ( 0, if y = 0, 32 + 0.5y 2 , if y > 0.

Suppose that the demand curve is P(y) = 9y. For each of the cost functions given as (a2) and (a3), find the following: (a) The regular monopoly price, quantity, profit, and dead-weight loss. (b) One of these cases illustrates that it is possible to have a product which cannot be profitably produced in the market. Please determine whether production is socially desirable.