a) Draw a correctly labeled graph for a single-price monopoly and show the profit-maximizing quantity, labeledQ1

(b) Assume the monopoly now engages in perfect price discrimination. On your graph in part (a), show the profit-maximizing quantity for the price-discriminating monopoly, labeledQ2

(c) Based on your answer in part (b), what will happen to the consumer surplus? Explain.

(d) Is the output produced by the perfectly price-discriminating monopolist allocatively efficient? Explain.