Consider a single price monopolist. monopolist's inverse demand curve is P=180-3Q , and marginal cost and average cost are as follows: MC=AC=30. Based on the above information, answer the following questions: " b) Diagrammatically represent the monopolist's demand, MR, and MC curves. (Note: You must make use of the equations when drawing your diagram and _ appropriately mark the lengths of relevant intercepts) ' c) Calculate the monopolist's profit maximising price and quantity, and show them on your diagram for part (b). Show your workings. . d) Show the monopolist's profit on your diagram for part (c). Calculate the consumer surplus and monopolist's producer surplus attained. ' e) Now, suppose that the monopolist decides to practice perfect price discrimination. Determine the profit maximising quantity, and show your working. ' f) Critically analyse the accuracy of the following statement. \"The singleprice monopolist achieves the socially efficient outcome by earning a _ higher level of profit compared to the perfectly price discriminating monopolist.\" | l l l l l l | l l | l | l | l I I l l