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Now, consider an Australian business firm who is a monopolist in the international market for is unique product. a) Using a graph, explain the effects

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Now, consider an Australian business firm who is a monopolist in the international market for is unique product. a) Using a graph, explain the effects of COVID-19 pandemic on the output choice and profitability of this Australian business firm (suppose that COVID-19 pandemic does not alter the demand side of the market but, as in Question 2, it increases the marginal cost of production for this Australian business firm). b) If the IFAM program helps to lower the marginal cost of production for this Australian business firm, using a graph, explain what would happen to this business firm with regard to its output choice and profitability when it receives the IFAM supports

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