uppose there are consumers that are willing to pay P (Q) = 20Q for quantity Q. The total cost of producing the good using the ideal technology is C(Q) = 2Q. (a) Write an equation for consumer surplus when the firm sells quantity Q. (b) Write an equation for the profit of a monopolist if the quantity sold by the monopolist is Q. (c) What is the socially optimal allocation? Does this allocation maximize consumer surplus plus firm profits derived above? (d) Suppose the good is produced by firms in a perfectly competitive market. What is the market equilib- rium? Is it efficient? If not, is this allocative inefficiency or productive inefficiency? (e) Suppose the good is sold by a monopolist. The monopolist arbitrarily chooses to sell the good at price P = 4. Is it efficient? If not, is this allocative inefficiency or productive inefficiency? Show the total value of the inefficiency in a graph. (f) Repeat the exercise for P = 1. (g) Suppose the monopolist uses an outdated technology and the total cost of production is C(Q) = 4Q, but chooses P = 2. Is it efficient? If not, is this allocative inefficiency or productive inefficiency? Would