In a market with a single price-making firm with total costc(y) = 2y, the industry demand is givenbyQ= 100−2p. a) Find the inverse industry demand by solving forp, then graph the inverse industry demandwith price on they-axis. b) How do you expect the price of the good to be relative to its marginal cost?c) How do you expect the Lerner Index to be in relation to 0 and 1? Will it be 0? Will it be 1? d) Find the optimal supply and the equili

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