Given the following cost curves for a monopoly that sells fragranced fireworks, please answer the following questions below while using the graph provided. Please show how came to the answer so that there is a better understanding of the work.

a. Using the graph what is the profit maximizing price and quantity for this monopoly, and why?

b. Using the graph what is the market efficient price and quantity for this monopoly, and why?

c. Using the graph what is the average cost pricing price and quantity for this monopoly, and why?

d. Using the graph what prevents a monopoly from charging whatever price they want in this market for fragranced fireworks?

e. Using the graph as needed if this were a price-searcher market with low barriers to entry instead of a monopoly, what would be the long run equilibrium price and quantity, and why? Please see attached graph that is needed for the above questions.

Given the following cost curves for a monopoly that sells fragranced fireworks, please answer the following questions below while using the graph provided. Please show how came to the answer so that there is a better understanding of the work. a. Using the graph what is the profit maximizing price and quantity for this monopoly, and why? b. Using the graph what is the market efficient price and quantity for this monopoly, and why? c. Using the graph what is the average cost pricing price and quantity for this monopoly, and why? d. Using the graph what prevents a monopoly from charging whatever price they want in this market for fragranced fireworks? e. Using the graph as needed if this were a price-searcher market with low barriers to entry instead of a monopoly, what would be the long run equilibrium price and quantity, and why? LRA TC MC 20 30 MR 50 8