Suppose the figure represents the market for diamond necklaces, where the company that supplies necklaces is a monopoly because it is the only firm with access to 260 .00 diamond mines. 230 00 What is the firm's profit-maximizing price and quantity? What are profits? 200.00 1 .) Use the point drawing tool to indicate the profit-maximizing price and quantity for 180.00 the monopoly. Label this point Profit- maximizing' 160 .00 2.) Use the rectangle drawing tool to shade in economic profits. Label this shaded 140.00 ATC Price and cost( per necklace) area 'Profit. 120.00 100 .00 Carefully follow the instructions above, and only draw the required ofyects. 20.00 60.00 40.00 20 .00 MR 0.00 0 2 4 6 8 10 12 14 16 18 20 22 24 26 Quantity ( diamond necklaces) Selected