11. Problems and Applications Q13 Based on market research, a film production company in Ectenia obtains the following information about the demand and production costs of its new DVD: Demand: P = 1,000 -10Q Total Revenue: TR = 1,000Q -10Q2 Marginal Revenue: MR - 1,000 -20Q Marginal Cost: MC = 100 + 10Q where Q indicates the number of copies sold and P is the price in Ectenian dollars.Complete the following table by finding the price and quantity that maximize the company's profit and the price and quantity that maximize social welfare. Price Quantity Scenario (Dollars) (DVDS) Maximizes the company's profit Maximizes social welfare The deadweight loss from the monopoly is $2,250 Suppose, in addition to the costs above, the director of the film has to be paid. The company is considering four options: 1. A flat fee of 2,000 Ectenian dollars II. 50 percent of the profits III. 150 Ectenian dollars per unit sold IV. 50 percent of the revenueComplete the following table by finding the price and quantity that maximize the company's profit under each of the following options. Price Quantity Option (Dollars) (DVDS) Change in Deadweight Loss Flat fee of 2,000 Ectenian dollars 50 percent of the profits 150 Ectenian dollars per unit sold 50 percent of the revenue