1l Revenue and costs Econ 107 Assignment #4 The Assignment is due on May 9, 2024, Thursday, 20:59. (20 pts) For the following Monopoly Demand L 0 600 800 940 1160 Quantity What is the economically efficient output level? What is the difference between the monopoly output and the perfectly competitive output? What is the difference between a monopoly's price and a perfectly competitive industry's price? What is the difference between the monopoly's price and the marginal cost of production when it comes to profit-maximizing quantity? Compared to perfect competition, the consumer surplus in a monopoly Why does a monopoly cause a deadweight loss? Compare the producer surpluses