Please help our assignment with explanation.

A1, continued P. IR. MC {3} What is the monopoly output, Q"? (Pick from E, J, M, N, and R.) Answer: (1\" = What is the price the monopoly would charge, P"? (Pick from A, B, C, D and E.) Answer: P" = {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: lb) The part that simplyr disappears due to the under allocation: Answer: {6} What Is the monopoly's total revenue under {31? Answer: {7} What Is the monopoly's total variable cost under (3]? Answer: {8} What Is the monopoly's prot before xed costs? Answer: {9} Identify the area for ltotal) deadweight loss: Answer: A3: Consider the operation that requires a one-time startup capital investment of $10,000,000. To simplify, assume that there is no other fixed cost involved in the production. Also, instead of the usual upward sloping MC curve, assume that the marginal costs of production is constant, $2. Total Quantity One-time Start Marginal Total Costs Average Total Variable (Q) Up Costs Costs (MC) Costs (VC) (TC) Costs (ATC) 0 $10,000,000 n.a. SO $10,000,000 n.a. $10,000,000 $2 $2 $10,000,002 $10,000,002 2 $10,000,000 $2 $4 $10,000,004 $5,000,002 3 $10,000,000 $2 $6 $10,000,006 $3,333,335 $10,000,000 $2 5 $10,000,000 $2 6 $10,000,000 $2 $12 $10,000,012 $1,666,669 $10,000,000 $2 $14 $10,000,014 $1,428,573 00 $10,000,000 $2 $16 $10,000,016 $1,250,002 9 $10,000,000 $2 18 $10,000,018 $1,111,113 10 $10,000,000 $2 (1) In the table above, fill in the blanks by computing the VC, TC and ATC for Q = 4, 5, and 10. (2) Compared with the ATC, is MC very small? Yes or no? Answer: (3) Currently, there is only one firm in the industry, producing 10 units. What is the firm's ATC? Answer: $ (4) Suppose there is a potential entrant wanting to produce 5 units, what would be the potential entrant's ATC? Answer: $ (5) How many firm(s) would the industry most likely end up with? Answer: (6) Use two words to describe the market structure of this industry. Answer:A2: Consider the case of monopoly who faces a downward sloping demand curve and is to charge a single price for all its consumers. The firm is to maximize its profit. The cost structure is presented on the left-hand side of the table below, while the demand curve is on the right-hand side of the table. Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Production and Costs Demand, TR and MR Total ATC MC Price Quantity TR MR Product Demanded O N.A. N.A $100 0 SO N.A. $105.00 $45 $95 1 $ S IN $72.50 $40 $90 2 S S 3 $60.00 $35 $85 3 S 4 $52.50 $30 $80 4 $320 $65 5 $49.00 $35 $75 5 $375 $55 6 $47.50 $40 $70 6 $420 $45 $47.14 $45 $65 $455 $35 $48.13 $55 $60 8 $480 $25 LD 00 $50.00 $65 $55 $495 $15 (1) Fill in the missing values in Column 6 and Column 7. (2) Identify the firm's profit-maximizing output quantity. Answer: units (Hint: Compare MC with MR for each quantity, while making sure that you have passed the point where the LDR has set in.) (3) Given (2), identify the price that the firm should charge. Answer: $. (Hint: The demand curve is the price line.) (4) Given (2), identify the firm's total cost per unit of output. Answer: $. (Hint: ATC is the total cost per unit of output.) (5) What is the firm's profit per unit of output? Answer: $. (6) What is the firm's total profit? Answer: $. (7) What is the total consumer surplus? Answer: $ (Hint: Add up all consumer surpluses, from Unit #1 up to the last unit served.)