2. Suppose an industry has potential firms with identical technologies with TC' = 200 + 2Q2. The demand curve in this industry is D(p) = 18 - 4p (a) What is the AC minimizing quantity for a representative firm? (b) How many firms will operate in this market in the long run? (c) Now assume this market is a monopoly, and we will treat the fixed costs as sunk. What is the monopoly quantity and price? (d) What is the deadweight loss from monopoly pricing (assuming again 1 firm and sunk fixed costs)? What is the producer surplus