In the given linear equation \( y = 342 - 2.2x \), the y-intercept is the value of \( y \) when \( x = 0 \). This corresponds to the price of the computer when no weeks have passed since last Monday (i.e., last Monday itself).
Thus, when \( x = 0 \): \[ y = 342 - 2.2(0) = 342 \]
This means the price of the computer last Monday was $342.
Therefore, the correct interpretation of the y-intercept is:
C. The y-intercept represents the price of the computer last Monday.