Question content area left Part 1 A monopoly has a constant marginal cost of production of ?$4 per unit and no fixed costs. In the figure to the? right, let D be demand and MR be marginal revenue.

?1.) Using the line drawing tool?, graph the? monopoly's marginal cost curve. Label this curve? 'MC.'

?2.) Using the line drawing tool?, graph the? monopoly's average variable cost curve. Label this curve? 'AVC.'

?3.) Using the line drawing tool?, graph the? monopoly's average cost curve. Label this curve? 'AC.'

?4.) Using the point drawing tool?, indicate the? monopoly's profit-maximizing price and quantity. Label this point? 'e.' ?

5.) Using the rectangle drawing tool?, shade in the? monopoly's profit. Label this? 'profit.' ?

6.) Using the triangle drawing tool?, shade deadweight loss created by the monopoly. Label this? 'DWL.'