Market Power and Monopoly - End of Chapter Problem The accompanying graph depicts the market demand for 30-weight ball bearings. The market segment is monopolized by a single producer named Irwin. 180 170 DWL 160 150 140 130 MC 120 110 100 Price ($/dozen) 90 80 70 60 40 30 20 10 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Quantity of bearings (dozens) ENG 04:31 o 55OF IN 17/11/2021Question 14 of 25 140 130 MC 120 110 100 Price ($/dozen) 90 80 70 10 - 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Quantity of bearings (dozens) a. Under perfect competition, the price is and the quantity is dozen bearings. Under monopoly, the price is , and the quantity is b. Place the triangle labeled DWL on the graph to shade the area representing deadweight loss due to Irwin's monopoly. 04:32 Eli W 55OF ENG IN 17/11/2021