. A monopoly has long run total cost given by: I C "Q+ 0.6"Q", where Q represents the units of output. . The market demand is given by: P(Q) = 185 - 2.3Q. The monopolist's marginal revenue and marginal cost functions are: MR(Q) = 185 - 2*2.3*Q = 185 - 4.6*Q and MC(Q) = 5 + 2*0.6*Q = 5 + 1.2*Q. The profit-maximizing level of output for this monopolist is QM = 31.03, the market price is PM = $113.63, and the monopolist earns profit of $2703.1. . Consumer surplus under monopoly would be 1107.3. . If this monopoly acted like a perfect competitor setting marginal cost equal to price, the level of output produced would be Qc = 51.4 and price would be Pc = $66.78. Calculate the profits and the consumer surplus corresponding to this competitive equilibrium. (a) Profitc = (Round your final answer to one decimal place.) (b) CSc = (Round your final answer to one decimal place.)