Diagram on page 8 is diagram in number 9. Help me please with economics. I need solution with explanation

(f) Explain why a prot-maximizing monopolist would never choose to operate on the inelastic portion of its demand curve. [4 mark] (4 Points) Enter your answer Costs, revenue ($) Firm B operates in a monopolistically competitive market. The following diagram illustrates the marginal cost (MC), average cost (AC), average revenue (AR) and marginal revenue (MR) curves it faces. The diagram is not drawn to scale. (9) State two characteristics of monopolistic competition. D4?) (2 Points) 10 (h) Calculate Firm B's short-run profit/loss at the profit-maximizing level of output. (2 Points) Enter your answer 11 (i) Using the diagram, explain how long-run equilibrium will be reached. (4 Points) Enter your answer 12 (j) With reference to the diagram on page 8, outline whether allocationficiency will be achieved in the long run in a monopolistically competitive market. [) (2 Points)13 Price ($ per kilogram) 15 14 13 12 . 11 10 Supply 9 - 8 - A w Demand N 0 - 10 11 12 13 15 Quantity per year (thousands of kilograms) Question 2 The following diagram illustrates the domestic market for rice in Country Alpha. This diagram will be used for several of the following questions. (a) Calculate the social surplus at the equilibrium market price. [) (2 Points)The government in Alpha imposes a price ceiling of $5 per kilogram. (b) (i) Calculate the resulting shortage in the market. (1 Point) Enter your answer b) (ii) Calculate the change in the consumer surplus after the imposition of the price ceiling. (2 Points) Enter your answer b) (iii) Calculate the welfare loss after the imposition of the price ceiling. D4?) (2 Points)