answer the following question

The production of \"video game entertainment" (q) requires two factors: a console (c) and video games (9). The production function is given by: (a) (b) (d) (e) (f) (g) 0') q = min{c, g}. (2) Does the production function in (2) exhibits increasing, decreasing or constant returns to scale? Justify your answer. (4 marks) Suppose each console costs $300 and each video game costs $30. Find the marginal cost of producing :1 units of \"video game entertainment\". (6 marks) The market demand for video game entertainment is given by P = 1350 450:; where P is the price of video game entertainment and q is the quantity in the market. Suppose the market for video game entertainment is competitive (that is, all buyers and sellers are price takers). Find the equilibrium price and total market output of video game entertainment. (4 marks) Can you determine the output of each individual firm in the market? Justify your answer. (3 marks) Compute the consumer surplus and the producer surplus at the equilibrium point obtained in (c). (4 marks) Now, suppose the market is operated by a monopolist who faces the same demand curve as in (c) and that has a constant marginal cost of $450. Find the new equilibrium price and the new quantity. (7 marks) Compute the consumer and producer surpluses for the quantity and price obtained in part (f). (4 marks) Compute the dead-weight loss in this market when it is operated by a monopolist instead of being competitive