P, MR, MC ce fo MC and sid Column Demand R Quantity MR (3) What is the monopoly output, Q? (Pick from E, J, M, N, and R.) Answer: QM = What is the price the monopoly would charge, PM? (Pick from A, B, C, D and E.) Answer: PM = (4) What is the area for consumer surplus under monopoly solution in (3)? Answer: (5) Compared with the social optimal solution, identify the reduction in consumer surplus due to monopoly, separating into the following two components: a) The part that was transferred from consumers to the monopoly: Answer: b) The part that simply disappears due to the under allocation: Answer: (6) What is the monopoly's total revenue under (3)? Answer: (7) What is the monopoly's total variable cost under (3)? Answer: (8) What is the monopoly's profit before fixed costs? Answer: (9) Identify the area for (total) deadweight loss