Question 3 12 pts The figure illustrates the situation facing the publisher of the only newspaper containing local news in an isolated community. Given the market demand below, and the publisher's marginal cost for the new plant is constant at 20 cents per copy printed. 100 P(cents per newspaper) 20 500 Q(newspaper per day) 1. The publisher will maximize profit by producing [ Select ] newspaper per day. 2. The price charged by the publisher is [ Select ] 3. The daily total revenue for the publisher is [ Select ] 4. At the price charged for a newspaper, the demand is [ Select ]Question 4 12 pts In the monopoly newspaper market described in Question 3: 1. The efficient quantity of newspaper to print is [ Select ] because [ Select ] 2. The consumer surplus of the readers of the newspaper (under monopoly pricing) is [ Select ] 3. The deadweight loss created by the monopoly newspaper publisher is [ Select ]