My business is an arcade bar and I need help for these questions:

If you applied for and obtained a patent, copy right, or some form of monopoly protection for your good or service.

1. Indicate what happens to thefirm'sdemand curve for your good or service.
2. Describe how the monopoly price and quantity is different from the perfectly competitive price and quantity?
3. Discuss the prospects for your small business in the long run.