2. A monopolist faces the following demand curve: P = 520 - 0.7Q, its total cost is given by: TC = 800 + 0.3Q2. If it is a non-discriminating (single price) monopolist, what is its profit maximizing price and quantity? How much is the profit? How much are consumer surplus, producer surplus and dead-weight loss? Compare these to the efficient outcome where the social surplus is maximized.2. Monopolist's profit maximizing Q = 260, P = 338, profit * = 66800. CS = 23660, PS = 67600, dead-weight loss = 12740. In the efficient outcome, Q = 400, P = 240, profit * = 47200. CS = 56000, PS = 48000, dead-weight loss = 0