d. Calculate the Consumer Surplus, Producer Surplus, and Deadweight Loss. $ 60 50 MC 40 Price 30 20 D 0 4 8 12 16 24 Quantity 2. Assume the graph above represents a perfectly competitive market. The curve labeled MC is also the market supply curve. There will be 12 units produced at a price of $30 each in equilibrium. a. How does the price of the simple monopoly relate to the price in the perfectly competitive market? b. Assume average total cost is $30 at 12 units. What profit will the perfectly competitive firm make? How does this compare with the profit of the simple monopoly? c. Calculate the Consumer Surplus, Producer Surplus, and Deadweight Loss. Compare the value of each with the surpluses under simple monopoly. N