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I think I know what to do but I'm not sure. Please help. In all your answers, you need to show your work. l.- There

I think I know what to do but I'm not sure. Please help.

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In all your answers, you need to show your work. l.- There are three consumers in the competitive market for widgets. Their inverse demand functions, given the prices of the rest of goods and the consumers' incomes, are PM) = 10 - s, P20?) = 10 - 2a. PM) = 10 - 26;, Where q represents number of widgets. Widgets are produced by two competitive rms each with cost function quz. a) Obtain the market demand function and the market supply mction. b) Obtain the equilibrium prices and outputs. Also, compute the consumer surplus, the producer surplus, and the total surplus. 0) Suppose that the price is exogenously xed (perhaps by law) at p=4. Compute the deadweight loss that would result 'om this new outcome in the market

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