C. Use the diagram to answer the below questions: 20 15 10 MC = ATC 5 10 20 MR 1. Calculate the maximum profit if the market is a monopoly. 2. What quantity would be produced if the monopoly becomes a perfectly competitive industry? 3. Calculate the maximum profit for the industry if it is perfectly competitive. 4. Calculate the consumer surplus if the industry is perfectly competitive. 5. Calculate the consumer surplus if the industry is a monopoly. 6. What would happen to the following if there is an increase in marginal cost? (a) The price that the monopolist can charge. (b) The quantity that the monopolist will produce. (c) The quantity that the perfectly competitive industry will produce. (d) The maximum profit of the perfectly competitive industry