If a perfectly competitive industry can produce chocolate at a constant marginal cost of $2.00 per unit. When the industry is monopolized, the marginal cost of producing Chocolate increase $4.00 per unit. Market demand: QD = 100 − 10P, 1. Solve for the perfectly competitive output, price, and industry profit. 2. Solve for the monopoly output, price, and profit. 3. Calculate the loss of consumer surplus form monopolization of chocolate production.

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