Questions.,,,

A monopolist has an inverse demand curve given by P = 12 O. and a cost curve given by C(Q) = 03:. Notehere there is no fixed cost, only variable cost.'|i 11 For each ofthe questions below, you can just state your final numerical answer unless otherwise indicated.1l A. (8 points) Derive expressions for the AR, MR, AC, and MC curves ofthe monopolist (these should all be functions of the output level 0.).11 B. (4 points) Draw the graph of the AR, MR, AC, and MC curves1i C. (5 points) What will be its profit maximizing level of output? Provide some details for how you obtained this number. 1] E. (10 points) What is the dollar amount of total social surplus (T5) = consumer surplus (C5) + producer surplus (PS) + government revenue (GR) in this monopoly scenario? 1] F. (5 points) By contrast in a perfectly competitive industry, output would be set based on the criterion that P = MC. Suppose that the same MC curve above for the monopolist is also the MC curve for an alternative industry that consists of many competitive firms. What be the amount of 0. supplied by the competitive industry?'i|