4.00 3.50 Monopoly Outcome 3.00 ATC 2.50 Profit PRICE (Dollars per can 2.00 1:50 Loss MC .00 MR 0.5 0 1.5 20 25 3.0 3.5 4.0 QUANTITY (Thousands of cans of beer) Suppose that BYOB charges $2.75 per can. Your friend Andrew says that since BYOB is a monopoly with market power, it should charge a higher price of $3.00 per can because this will increase BYOB's profit. Complete the following table to determine whether Andrew is correct. Price Quantity Demanded Total Revenue Total Cost Profit (Dollars per can) (Cans) (Dollars) (Dollars) (Dollars) 2.75 3.00 Given the earlier information, Andrew correct in his assertion that BYOB should charge $3.00 per can. Suppose that a technological innovation decreases BYOB's costs so that it now faces the marginal cost (MC) and average total cost (ATC) given