3. Hot Air Balloon Rides is a single-price monopoly. Columns 1 and 2 of the table set out the market demand schedule and columns 2 and 3 set out the total cost schedule: Price Quantity demanded Total cost (dollars [rides [dollars per ride) per month! per month] 220 80 200 160 180 260 VIAWN- 160 380 140 520 120 680 a. Construct Hot Air's total revenue and marginal revenue schedules. b. Draw a graph of the market demand curve and Hot Air's marginal revenue curve. c. Find Hot Air's profit-maximizing output and price and calculate the firm's economic profit. d. Suppose Hot Air knows each consumer's willingness to pay, and implement perfect price discrimination. Calculate the corresponding output quantity, consumer surplus, producer surplus, and deadweight loss