Consider an industry with the following structure. There are 200 firms that behave in a competitive manner and have identical cost functions given by c(y) = 10y . There is one monopolist that has zero marginal costs. The demand curve for the product is given by D(p) = 600 - 10p. V 4th attempt See Hint Part 1 (0.5 point) What is the supply curve for one of the competitive firms? Choose one: O B. y = V 10p O C. y = 70 P O D. y = 2P O E. p = 20Part 2 (0.5 point) 0 See Hint The total supply of the competitive sector is 10 p. Part 3 (0.5 point) 0 See Hint If the monopolist sets a price p, what is the amount it can sell? Chooseone: A. Dm(p) = 600 20p 0 B. Dm(p) = 600 10p 0 C. Dm(p) = 10p 0 D. None of the answers is correct Part 4 (0.5 point) 0 See Hint The monopolist's prot-maximizing output is ym = 300 Part 5 (0.5 point) 0 See Hint The monopolist's prot-maximizing price is pm 2 1.5 Part 6 (0.5 point) 0 See Hint The total output produced in the industry is 315