Consider the following graph P Po MC P2 ATC P3 P4 P5 P6 P7 MR Q1 Q? Q Q4 The graph above shows the demand curve (D), marginal cost curve (MC), average cost curve (AC), and marginal revenue curve (MR) for a monopolist. a) What is the profit maximizing quantity and price for the monopolist? If this is a perfectly competitive market, what is the equilibrium quantity and price? What area represents the deadweight loss caused by the monopolist? b) C)

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