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(20 points) Below is a graph of the market for diamonds where there is only one producer. As such, assume that this producer's production decision

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(20 points) Below is a graph of the market for diamonds where there is only one producer. As such, assume that this producer's production decision sets the price of diamonds. Use the graph below to indicate the following outcomes (you may also re-draw this graph if you need): a. the quantity produced by the monopoly - label this as (1* b. the market price label this as P* c. the producer surplus - label as PS d. the consumer surplus - label as CS e. the deadweight loss - label as DWL

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