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M 2020FA-ECON-2302-81003 (2 X ACFrogDrapeqXIR8QRu80T65 C A doc-0g-as-apps-viewer.googleusercontent.com/viewer/secure/pdf/Ohc8mtqqtf468hk801qokn383lv8rdr4/s3p70n2vt25n5en4qkid9fa3np4h4b36/1604974575000/gmail/13569470965582472073/ACFrogDrapeqXIR8QRu80T652wpSFRko3GdU2uexOwd6EXVxQdaQzmr6N2gYL7hJDFhoJJppHV-DDMkZVcVdONBsInNSdvsLt.. *J Paused Question 1 - 11 points You are given with the following table for a monopoly firm. Please complete the table and find out the profit maximizing point - the quantity and price. Which approach did you use? Quantity Price Total Marginal Total Cost Marginal Revenue Revenue Cost Profit 0 16 25 2 15 A W 1 14 35 41 13 12 45 5 47 11 49 6 7 10 9 8 8 65 79 100 Question 2 - 4 points Consider the cereal industry - it is an oligopoly market structure. Kellogg has 22% market share, General Mills has 15% market share, Post has 18% market share, Quaker Oats has 9% market share, Pepsico has 14% market share, Nestle has 10% market share and the rest of the companies have 12% shares. Calculate the concentration ratio for the industry and identify the key players in the industry