2.4 The following figure shows the demand curve, marginal revenue curve, marginal cost curve, and average total cost curve for a monopolist. 20 18 16 14 12 Price ($/units) 10 ATC 00 a MC EN MR D 9 10 Quantity (units/day) a. What is the socially optimal level of output? Explain. (2 points) b. What is the profit-maximizing level of output for the monopolist? Explain. (2 points) c. At the monopolist's profit-maximizing level of output, how much economic profit (or loss) will the monopolist make? (2 points) d. At the monopolist's profit-maximizing level of output, what is the deadweight loss to society? (3 points) e. If the monopolist can perfectly price discriminate, what would be the resulting total surplus? (3 points)