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PART II MONOPOLY 10 POINTS The chart below depicts the current monopoly market for cadmium. The price is per pound (1b) and the quantities are in millions of lbs. Price Market Total Marginal Total cost Average Marginal demand revenue revenue total cost Cost $90 0 8000 $80 100 11000 $70 200 13000 $60 300 14000 $50 100 16000 $40 500 21000 $30 600 27000 $20 700 35000 $10 800 45000 A) Draw the market demand curve, marginal revenue and marginal cost curves. B) What is the equilibrium price of cadmium in the market? C) How much cadium will be produced at equilibrium in this market? D) What is the profit earned by this monopolist? E) What is the profit per unit earned by the monopolist