1131 PM Fri Dec 3 a courseskpuca 9. (7 marks) Assume that the market for living room couches is a monopoly and charges each consumer the same price for couches. Producers have the same cost situation: 0 The labor and raw material expense of producing additional units of couches for every factory is constant at $100 and equal to average total costs. Assume this is the long run, so fixed costs are equal to zero. Per-period market demand for couches is stable, and described by the data in the following equation: P = 2000 5Q For each of the following questions, show/ explain how you arrived at your answers. a) Label the intercepts of the demand curve and draw the marginal revenue [MR] curve on the graph below. Write the function for the monopolist's demand and marginal revenue curve below: $ ?43%I