Question 6. The demand for good X is given as P=40-40. Firm A is a monopolist producing good X with the following total cost function: TC=80+40+0.502. Suppose the government is considering deregulating this market in order to make the market for good X perfectly competitive. a) What is the equilibrium output and price when firm A acts as a monopolist? [4] b) What is consumer surplus and producer surplus when firm A acts as a monopolist? Show your work. [6] c) What is the equilibrium output and price if the government makes this market perfectly competitive? (Rounding to two decimal places is fine, no need for whole numbers) [2] d) What is consumer surplus and producer surplus when the market is perfectly competitive? Show your work. [4] e) How much does social welfare (i.c., total surplus) increase when the market moves from monopoly to perfect competition? Explain your answer. [2]