Consider a small watchmaker. Assume the market for watches is perfectly competitive. The watchmaker has no fixed costs, so if he does not produce any watches in a year, he has a cost of zero. The annual cost of making watches is given by the following function: = c(y)--10y+200g. where y stands for the number of watches manufactured in a year. 1st attempt Part 1 (1 point) See Hint Suppose the price of a watch is $136. If the watchmaker is a profit-maximizing producer, he would manufacture and sell a number of watches such that his marginal cost equals $ Part 2 (2 points) See Hint The smallest number of watches that the watchmaker could manufacture and sell for the marginal cost to equal what you answered in Part 1 is watches. The largest number of watches that the watchmaker could manufacture and sell for the marginal cost to equal what you answered in Part 1 is watches. Part 3 (1 point) To maximize profits, the watchmaker should manufacture and sell watches. See Hint