A monopolist has a constant marginal cost of $40. This monopolist faces the demand curve shown in the first two columns in the table below. Total Output Price Marginal Average Marginal Revenue Total Cost Cost $100 $100 $100.00 $40 2 90 80 63 $40 3 80 60 52.67 $40 4 70 40 49.5 $40 5 60 20 49.6 $40 6 50 0 50 $40 7 40 -20 52.29 $40 30 -40 55.75 $40 9 20 -60 60.67 $40 10 10 -80 67.6 $40 a. What is the optimal quantity and price chosen by the monopolist? (3 points) b. What is the monopolist's profit? Is it sustainable in the long run? Briefly explain your answer. (3 points) c. What would be the optimal quantity and price if this would be a perfectly competitive market? What is the profit made by the producers at this optimal quantity and price? (4 points) d. What is the loss in social surplus associated with the monopoly market? (calculate DWL). (3 points) e. What is the fair-return price? What would be the quantity produced by the monopolist if the government imposed the fair-return price in this market? What would be the profit in this situation? (3points) f. Based on your previous answers, do you think the government should intervene and impose the socially optimal price to maximize social surplus? Why or why not? (2 points)