(4 points) Monopoly and equilibrium 0. (1 point) Taylor gets smart and realizes that she is the only quality bistro around. Calculate the marginal revenue she gets for each additional serving as the change in total revenue (price times sales). Graph this and give the new quantity of sales and the new price. b. (1 point) Shade in the entire area of consumer surplus on your monopoly graph. Shade in the entire area of producer surplus. c. (1 point) Calculate total consumer and total producer surplus under the monopoly situation. d. (1 point) Compare the sum of consumer and producer surplus for the monopoly with the results for perfect competition. Which is better for consumers? Which is better for producers? Which is better for society? Explain. 5. (2 points) Moving Equilibrium. Show the effect of each on the monopoly market equilibrium; you don't need to have exact answers but explain the direction of change in the demand and/or marginal cost curves. a. (0.5 points) Beef prices rise. b. (0.5 points) There is blight, and carrots are in short supply at higher prices. c. (0.5 points) Taylor loses her good pastry chef. The new chef is hired at the same wage but the crme brle quality is off. d. (0.5 points) A local restaurant reviewer praises the quality of her boeuf