in class activity Module 13 Layout References Mailings Review View Acrobat ) Tell me " A A Aa Po AaBbCcDdE AaBbCcDdE AaBbCc[ AaBbCoDd A x X A - DA - Normal No Spacing Heading 1 Heading 2 Title Q1: Maggie is one firm of many in the market for toothpaste, which is in long-run equilibrium a. Draw a diagram showing Maggie's demand curve, marginal-revenue curve, average total cost curve, and marginal-cost curve. Label Sparkle's profit-maximizing output and price. b. What is Maggie's profit? Explain. c. On your diagram, show the consumer surplus derived from the purchase of Maggie toothpaste. Also show the deadweight loss relative to the efficient level of output. d. If the government forced Maggie to produce the efficient level of output, what would happen to the firm? What would happen to Maggie's customers? Q 2: You and a classmate are assigned a project on which you will receive one combined grade. You each want to receive a good grade, but you also want to avoid hard work. In particular, here is the situation . If both of you work hard, you both get an A, which gives each of you 40 units of happiness . If only one of you works hard, you both get a B, which gives each of you 30 units of happiness. . If neither of you works hard, you both get a D, which gives each of you 10 units of happiness. . Working hard costs 25 units of happiness. I Work English (United States)