10. (24 points) Now suppose that a disease wipes out avocado producers except Greenthumb, so that they are a monopoly. Suppose further that the market demand for avocadoes is given below (use the cost data from question 8). Price Quantity Demanded TR MR 55 0 50 45 2 40 3 35 4 30 5 25 20 a. Calculate total revenue at each quantity. b. Calculate marginal revenue at each quantity. c. Suppose Greenthumb charges a single price, what is their profit maximizing quantity and how much profit do they earn at that quantity? d. With Greenthumb operating as a single-price monopoly, is this market efficient? Briefly explain your answer. e. Now suppose Greenthumb can perfectly price discriminate - how much will they produce and how much profit do they earn? Is the market efficient when Greenthumb is a perfect price discriminator? 11. (8 points) Why does excess capacity occur in monopolistically competitive markets? What is the benefit from monopolistically competitive markets that compensates society for this excess capacity