I need your help to solve this assignment, it is for microeconomics problem solving 2 for this week.

The gure below shows the demand and cost curves for a monopolist. Assume there are no xed costs in the market and an unlimited number of units of the product can be produced at a marginal cost of $5 per unit. As a result average total cost and marginal cost are the same. ATC=MC=5 I) Find the output level and the price charged to consumers, when the monopolist is maximizing its prot. (6 marks) 2) Find the monopoly's total economic prot when it is maximizing its prot. (4 marks) 3) Indicate the area of consumer surplus under monopoly. (2 marks) 4) What would be the market price and the market quantity, if the industry in the gure was perfectly competitive (Assuming a constant cost industry)? (4 marks) 5) Indicate the area of consumer surplus when the market is served by perfectly competitive rms. (2 marks) 6) What is the area of the desdweight loss from monopoly? (2 marks) Question 1 The following graph represents the situation of Sindbad's caps, a firm selling caps in the perfectly competitive caps industry. Price and cost MG Idollars por cap) $1100 MR 400 00 100 Quantity (caps por day) 1) How much output should Sindbad produce to maximize his profit, if the market price is equal to $117 2) How much profit (loss) will he earn? 3) Indicate the profit (loss) area on the graph. 4) Suppose Sindbad decides to shut down. What would his loss be