Suppose the raspberry-growing industry in Canada is perfectly competitive. Defining to be units of raspberries produced, assume that each producer has the long-run marginal cost function ()=20+2 and the long-run average cost function ()=20++144 The market demand function is =24882 where is the market price of raspberries.

a) Whatis the choke price? b) What is the general equation for the price elasticity of demand written as a function of price alone? (Hint: Start with the definition of the price elasticity of demand and use the information given to eliminate the quantity variable, y.) c) Find the marginal revenue function. d) Find the monopolist's profit maximizing price and quantity? What is its profit? Illustrate in a carefully constructed diagram. e) What is consumer surplus? What is the dead-weight loss? Show on the diagram from part d).