The industry demand curve for a mini gadgets market is given by:

Q = 1600 - 200P.

The industry exhibits constant long-run average cost at all levels of output, regardless of the market structure.

Long-run average cost is a constant $3.50 per unit of output.

Calculate market output, price (if applicable), consumer surplus, and producer surplusfor each of the scenarios below:

1. Under Perfect Competition (5 points)

2. Under First Degree Price Discrimination (5 points)