Question 3 (8 marks) Consider the following information about a small town called Tinyville. John owns Eat-well, the only restaurant in town, while Hilda owns Coffee-delux, one of many coffee-shops operating in a perfectly competitive market. By making use of the relevant graphs compare the (i) allocation efficiency, (ii) production efficiency (iii) profit and (iv) dead-weight loss of a perfectly competitive firm (Coffee-delux) with that of a monopoly (Eat-well) in the long run. This table indicates all the necessary values you will need in order to substantiate your arguments on your graphs. Eat-well Coffee-delux Price at optimal output level R200 R130 Optimal output level 300 800 Marginal cost at optimal output level R120 R130 Average total cost (ATC) at optimal output level R160 R130 Minimum average total cost (ATC) R130 R130