A monopolist's demand, marginal revenue, and marginal cost curves are shown in the diagram to the right 1) Using the point drawing tool, identify the monopolist's proft-maximizing output and price on the diagram. Label the point Monopoly 2) Using the point drawing tool, identify the output and price that would occur if this was a perfectly competitive market. Label the point "Competition 3) Using the triangle drawing tool, find and shade in the area of the deadweight loss due to monopoly power in this market. Label the triangle 'DWL Carefully follow the instructions above, and only the required objects Price MR Quantity MC

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