Question 4(30 pts): Suppose that the milktea market has one dominant firm, Chatime, and that there are 100 smaller milktea shops. The market demand is Q=80016p, where Q=qL+QF. Assume that qL is Chatime's output and QF is the total quantity supplied by the 100 smaller milktea shops. Chatime's total cost function of CL=40qL. Each of the smaller milktea shops has a total cost function of Cf=20qf+40qf2, where qf is the output of each smaller milktea shop. a. (5 pts) Find the total supply of the smaller milktea shops. Make sure to show the details of your work including a brief discussion of how you arrived at this function b. (10 pts) Solve for Chatime's residual demand curve. Calculate the profit-maximizing quantity produced and price charged by Chatime. c. ( 15 pts) Solve for the quantity and price charged by each milktea firm. What is the market share of a typical milktea shop? What is the market share of Chatime? Question 4(30 pts): Suppose that the milktea market has one dominant firm, Chatime, and that there are 100 smaller milktea shops. The market demand is Q=80016p, where Q=qL+QF. Assume that qL is Chatime's output and QF is the total quantity supplied by the 100 smaller milktea shops. Chatime's total cost function of CL=40qL. Each of the smaller milktea shops has a total cost function of Cf=20qf+40qf2, where qf is the output of each smaller milktea shop. a. (5 pts) Find the total supply of the smaller milktea shops. Make sure to show the details of your work including a brief discussion of how you arrived at this function b. (10 pts) Solve for Chatime's residual demand curve. Calculate the profit-maximizing quantity produced and price charged by Chatime. c. ( 15 pts) Solve for the quantity and price charged by each milktea firm. What is the market share of a typical milktea shop? What is the market share of Chatime