Please see attached.

1. A pharmaceutical firm has a current patent on its sleep aid drug used by USMC. The table below describes the firm's revenues and costs. Price Quantity Demanded Total Revenue Total Cost Marginal Revenue Marginal Cost Q TR TC MR MC 10 18 20 $160 38 30 $210 70 5 3.2 40 $240 - NW AU a J CO O U 105 - W 3.5 50 $250 145 4 60 $240 190 70 $210 240 80 $160 295 90 $90 360 100 SO 450 a. (1p) What type of firm is this pharmaceutical firm? How can you tell? b. (1p) What quantity does this profit-maximizing firm choose to produce, and at what price per unit? Justify your choices for Q and P. Q = c. (2p) Show graphically (using generic curves) the choice of Q, and P for the pharmaceutical firm. Identify on graph above the loss in efficiency (DWL) from a monopoly, when compared with a competitive market outcome (Qc, Pc). Label graph. e. (1p) If patents generate a monopoly, and therefore a smaller efficiency in the use of limited resources (Le DWL), why does the government offer patent and trademarks protection/monopoly