MJC E CON] 02, Spring 2022 Final Exam Instructor: Zheng Huang 2.4 The following gure shows the demand curve, marginal revenue curve, marginal cost curve, and average total cost curve for a monopolist. Price (Siunits) 8 :23 I 3 E '3 o 1 2 3 4 5 6 7 8 9 10 Quantity (mittslday) a. What is the socially optimal level of output? Explain. (2 points) b. What is the prot-maximizing level of output for the monopolist? Explain. (2 points) 0. At the monopolist's protmaximizing level of output, how much economic prot (or loss) will the monopolist make? (2 points) d. At the monopolist's prot-maximizing level of output, what is the deadweight loss to society? (3 points) e. Ifthe monopolist can perfectly price discriminate, what would be the resulting total surplus? (3 points)