The average avoidable cost for a fringe rm is AAC(q) = 20/ q + Sq. The marginal cost function for a fringe rm is MC = 10q. There are 10 fringe rms. The marginal cost of the dominant rm is 2 and the demand function is Q = 100 P. (a) What is the supply function of the fringe? What is p0? (b) What is the residual demand function for the dominant rm? (c) What is the prot-maximizing price of the dominant rm? (d) Compare monopoly prots to the prots of the dominant rm. Which market structure is socially preferable, dominant rm or monopoly? Why