Price discrimination and welfare: Consider the following data on costs and revenues for a pure monopolist. Quantity Marginal Marginal Total Cost Price Demanded Revenue Cost 100 1 100 40 100 83 2 66 35 135 71 3 47 30 165 62 4 35 35 200 55 5 27 40 240 47 6 7 47 287 a. * What level of output would a monopolist that is unable to practice price discrimination choose? What is the profit at this level of output? b. ** What level of output would a monopolist that can practice first degree price discrimination choose? What is the profit under first degree price discrimination? c. *** If a monopolist that practices first degree price discrimination sets the same output as a perfectly competitive industry (and hence there is allocationefficiency) then does it follow that big firms should be given more market power rather than have their market power curtailed