Summers Friend (SF) is a single-price monopoly. Columns 1 and 2 of the table set out the market demand schedule for SFs water and columns 2 and 3 set out SFs total cost schedule.

A. Calculate SF's MR schedule and draw a graph of the market demand curve and SF's MR curve. Explain why SF's MR is less than the price. B. At what price is SF's total revenue maximized and over what range of prices is the demand for water elastic? Why will SF not produce a quantity at which the market demand is inelastic? C. Calculate SF's profit-maximizing output and price and economic profit