Question 3 The following table represents a monopolist firm. Quantity Price Total Revenue Average Revenue (Dinar) Marginal Revenue 1 50 2 90 D F 40 4 B 20 un 30 m 6 150 20 C A -20 9 90 -30 10 5 G Find A, B, C, D, E, F and G in the table. If this firm's marginal cost is fixed and equal to 10, how much units should it produce to maximize its profit? Why? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).Question 1 Answer the following questions based on the below figure that depicts a monopoly firm. Price Cur C Cure D P4 P 3 P1 Curve B Curve A 20 |02 23Q4 a. Which curve is the demand curve for the monopoly firm b. Which curve is the average total cost curve for the monopoly firm? C. What do curve B and curve C represent? d. If the monopoly firm wants to maximize its profit, at which level of output it should operate? e . Is the firm making positive or negative profit? What is the profit-maximizing monopoly's total revenue? What would be the equilibrium output and price if this firm was a competitive firm? g. What is the deadweight loss created by this monopoly? h. What is the socially efficient level of production and price? For the toolbar. press ALT+F10 (PC) or ALT+FN+F10 (Mac).Question 4 12 points Saved Answer the following questions based on the below figure. Show your calculations. A competitive firm Costs, P MC P = $30 MR1 ATC $16 $15 P = $8 MR2 80 Q 100 A. What is this firm's short run profit/loss at price=30? B. What is this firm's short run profit/loss at price=8? C. Suppose price=25. What will happen in the long run? What will be the price in the long run? (Give an approximate answer.) For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).Consider the following table of long-run total cost for three different firms: Quantity of Output Firm A Firm B Firm C 60 11 21 70 24 34 80 39 49 90 56 66 100 75 85 6 110 96 106 120 119 129 Does each of these firms experience economies of scale and/or diseconomies of scale? Show your calculations. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 14px IN - v A v v T.You are the CEO of Monsanto, the maker of Nutrasweet, that owned the patent to aspartame, the official name of the sweetener. In 2019 Monsanto's patent expired in Europe, allowing other firms to produce aspartame under other brand names. How can you categorize this market before and after the patent expires? (Monopoly, monopolistic competition or perfect competition) What impact do you think this had on the market for aspartame and your profits? What is one possible strategy you can pursue after this patent expiration not to lose profit? Explain briefly. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Arial 14px v A v TX