How to do Part 2?

ECF1100 Individual Assignment 2 x *Course Hero X -7 File | C:/Users/asus/Downloads/ECF1100%20Individual%20Assignment%202%20Sem%202%202022%20(1).pdf R COPY i Apps YouTube 5 Ways to Fight Rac... Maps Translate M Gmail E ECF1100 Individual Assignment 2 Sem 2 2022 (1).pdf 2 / 2 - 90% + 1 ... Part 2 (2.5 marks in total) Consider the following table representing the market for a new PC game 'Fortnightly'. This game is produced exclusively by a software company called ECF1100 Pty Ltd, thanks to an exclusive copyright having been obtained by lobbying the government minister for industry and development - Mr Eco Stuff. Quantity of Price Total cost games 0 $200 $C 1000 $190 $50,000 2000 $180 $100,000 3000 $170 $150,000 4000 $160 $200,000 5000 $150 $250,000 6000 $14 $300,000 7000 $13 $350,000 $120 $400,000 00 $110 $450,000 10000 $100 $500,000 1 1000 $90 $550,000 12000 $80 $600,000 a) Using the table above roughly illustrate what the market demand, MC, ATC, and MR functions would look like (you must show the XY intercepts of the MR function to get 0.25 marks for the MR function) (0.25 marks x 4 = 1 mark). b) Considering the 'monopoly' position, estimate what will be the equilibrium quantity and price of 'Fortnightly' games might be using the table provided earlier (0.5 marks x 2 = 1 mark). c) Using the data in the table provided earlier, how much would a firm be willing to spend in lobbying the government to achieve the exclusive position ECF1100 Pty Ltd has in this market? (0.5 marks). Type here to search W P ~ DJ () ENG 9:45 AM 10/8/2022