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Problem 2 Consider a situation where a monopolist faces the following inverse market demand curve p 100 - q and the following cost function TC = 4q+ 92 (a) Derive the marginal revenue and marginal cost functions. (b) What are the equilibrium price and quantity if this market behaved as if it were perfectly competitive? (c) Calculate the consumer surplus, producer surplus, and deadweight loss in this market. (d) What are the equilibrium price and quantity when the monopolist produces as a monopolist? (e) Calculate the consumer surplus, producer surplus, and deadweight loss in this market