QUESTION 15 The table below shows the costs and demand for the Primrose Oil industry Quantity Price Total Cost 0 $86 $40 82 70 78 90 3 74 120 70 160 66 210 6 62 272 58 348 8 54 440 a) If this were a perfectly competitive industry, what would be the price, output and total industry profit? b) If, alternately, this were a monopoly industry, what would the price, output, and total profit be