7. Market demand has been estimated as: QD= 600 - 10P The firm has a total cost function given as: TC = 200. If the market operated as a monopoly, a. Determine the profit maximizing monopoly output (Qu). b. Determine the monopoly price (Pur). c. Determine the monopoly profit. d. Determine the consumer surplus under the monopolist. Now assume the industry is perfectly competitive. e. Determine the profit maximizing competitive output (Qrc). f. Determine the competitive price (Ppc)? g. Determine the competitive industry's profit. h. Determine the consumer surplus under the perfect competition. i. Determine the deadweight loss of the monopoly. To answer d, h, and i, you will need to draw a diagram to illustrate your answers. Demand, MR, MC and ATC curves should be clearly labeled. Quantities and prices should be clearly identified and monopoly profit, consumer surplus (under monopoly and competition) as well as the deadweight loss due to the monopoly should be clearly identified