w MONASH "0" BUSINESS SCHOOL Part 2 (2.5 marks in total) Consider the following table representing the market for a new PC game 'Fortnightly'. This game is produced exclusively by a software company called ECF1100 Pty Ltd, thanks to an exclusive copyright having been obtained by lobbying the government minister for industry and development Mr Eco Stuff. Quantit of . gameys Price Total cost 0 $200 $0 1000 $190 $50000 2000 $180 $100000 3000 $170 $150000 4000 $160 $200000 5000 $150 $250000 6000 ' $140 $300000 7000 $130 $350000 8000 $120 $400,000 9000 $110 $450,000 10000 $100 $500,000 11000 $90 $550,000 12000 $80 $600,000 a) Using the table above roughly illustrate what the market demand, m, ATC, and functions would look like (you must show the X Y intercepts of the MR function to get 0.25 marks for the MR function) (0.25 marks x 4 = 1 mark). h) Considering the 'monopoly' position, estimate what will be the equilibrium quantity and price of 'Fortnightly' games might be using the table provided earlier (0.5 marks 1: 2 = 1 mark). 0) Using the data in the table provided earlier. how much would a rm be willing to spend in lobbying the government to achieve the exclusive position ECF1100 Pty Ltd has in this market? (0.5 marks). 2 Assignment 2 ECF1100 Microeconomics S2 2022 2022 Monash Business School