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8. A monopolist faces the demand curve Qo = 400 - 20P and the marginal revenue function MR = 20 - Q/10. The marginal (and average) long-run production cost is constant and equal to 10 monetary units. a) (4 points) Determine the equilibrium quantity and price for this monopolist. Next, represent the deadweight loss this entails on a graph. Finally, determine the value of that deadweight loss. b) (4 points) Suppose now that new firms are free to enter this market, each of them supplying differentiated products. The cost structure of all firms includes now a discretionary fixed component (F) associated with advertising costs, that is, the average long-run production cost is expressed by F/Q + 10 while the marginal cost remains identical to 10 monetary units. Represent on a graph the long-run equilibrium for each firm in this specific industry. What happens if the government forces all firms to adopt the socially efficient price? Explain and illustrate the resulting profits in your graph