Mono 0] Gra hical Suppose that you own a bakery that sells cookies. Each cookie costs you $1.00 to produce (chips and stuff like that) and for simplicity, there are no fixed costs. You notice that all of your customers have the same demand curve for cookies given by the following graph: Price per Cookie 012 3 4 5 6 7 B 9101112131415 Quantity of Cookies (a) Draw the marginal revenue curve corresponding to the demand curve on the graph. (b) If you were to charge the same price for all cookies, what price would you charge? (c) What profit would you earn? (d) How much consumer surplus is there? (e) What is the deadweight loss? Monopoly (Graphical) (a) Graph: 4.5 4 3.5 w Individuals' Demand Price per Cookie 2.5 2 1.5 MC, AC 0.5 MR 5 6 7 9 10 11 12 13 14 15 Quantity of Cookies (b) Price = 3 (c) Profit = 12 (d) CS=6 (e) DWL=6