Question 3 A) Using a diagram, represent a single-pric-hat is earning positive economic prots. Be sure to clearly identify the quantity that the monopolist would produce and the price that the monopolist would charge. Also, be sure that your diagram is accurately drawn and properly labeled. B) Why would a market characterized as a single-price monopolist not achieve the efcient outcome? Provide an explanation (you may choose to use your diagram from above in your answer, but it is not necessary)