On the next graph use the black point plus symbol to indicate the profit maximizing quantity sold and the lowest price at which the firm sells the boots. Next use the purple points to shade the profit the green points to shade the consumer surplus and the black points to shade the deadweight loss in the market with perfect price discrimination note if you decide that consumerSurplus profit or deadweight loss equals zero indicate this by leaving that element in its original position on the palette. Consider the welfare effects when the industry operates under monopoly and cannot price discriminate versus when I can price discriminate complete the following table by indicating under which market conditions each of the following is true know if the statement is it true for either single price monopolies or perfect price discrimination leave the entire row unchecked check all that apply.. barefoot produces a quantity more than the efficient quantity of 00H boots (single price, monopoly or perfect price discrimination) total surplus is maximized(single price, monopoly, or perfect price discrimination) there is deadweight loss associated with the profit, maximizing output, (single price, monopoly, or perfect price discrimination)

First, suppose that Barefeet cannot price discriminate. That is, it must charge each Consumer the same price for Ooh boots regardless of the consumer's willingness and ability to pay. On the following graph, use the black point (plus symbol ) to indicate the profit-maximizing price and quantity. Next, use the purple points (diamond symbol) to shade the prot, the green points (triangle symbol) to shade the consumer surplus, and the black points (plus symbol) to shade the deadweight loss in this market without price discrimination. (Note: If you decide that consumer surplus, profit, or deadweight loss equals zero, 6') indicate this by leaving that element in its original position on the palette.) -+ Monopoly Outcome P rot A Consumer Surplus Deadweighl Loss PRlCE (Dollars per pair of Ooh boots) 280 320 360 400 80 120 160 200 240 QUANTITY (Pairs of boots) Now, suppose that Barefeet can practice perfect price discriminationthat is, it knows each consumer's willingness to pay for each pair of Ooh boots and is able to charge each consumer that amount. ck point (plus symbol) to indicate the protmaximizing quantity sold and the lowest price at which the firm sells its 0n the following graph, use the bla boots. Next, use the purple points (diamond symbol) to shade the prot, the green points (triangle symbol) to shade the consumer surplus, and the w