$11.00 $10.00 MC $9.00 $8.00 ATCH $ per unit $7.00 $6.00 $5.00 $4.00 $3.00 0 3 4 5 6 7 8 9 10 11 Quantity of Output (q) Pierre is a photographer in a perfectly competitive market. The graph shown above gives his MC, ATC and AVC curves. Suppose the market price is $10.50. How much profit does Pierre make? 22.5 24 O 20 O 18Suppose a perfectly competitive market is suddenly transformed into one that operates as a monopoly market. We would expect: 0 price to rise, output to rise, consumer surplus to fall 0 price to rise, output to fall, consumer surplus to fall 0 price to rise, output to fall, consumer surplus to rise 0 price to fall, output to rise, consumer surplus to rise A price-discriminating monopolist will set prices so that customers with a _________ willingness-to-pay, pay ____________ prices than other customers, as long as this price is higher than the monopolist's average total cost. 0 higher; the same 0 lower; lower 0 higher; lower 0 lower; the same